Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $24.00 by Analysts at JPMorgan Chase & Co.

Denali Therapeutics (NASDAQ:DNLI) had its price objective lowered by JPMorgan Chase & Co. from $28.00 to $24.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

DNLI has been the topic of several other research reports. William Blair began coverage on shares of Denali Therapeutics in a research report on Friday, January 3rd. They set an “outperform” rating on the stock. HC Wainwright dropped their price target on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group increased their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.91.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $21.18 on Tuesday. The stock has a market cap of $3.05 billion, a P/E ratio of -7.67 and a beta of 1.39. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.33. The firm’s fifty day moving average price is $24.34 and its 200-day moving average price is $24.88.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the firm earned ($0.72) earnings per share. Sell-side analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. The trade was a 14.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the sale, the director now directly owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,658 shares of company stock worth $1,667,943 in the last 90 days. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CWM LLC grew its stake in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after purchasing an additional 654 shares during the period. Quest Partners LLC purchased a new stake in shares of Denali Therapeutics in the 3rd quarter worth about $73,000. Assetmark Inc. increased its stake in shares of Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after acquiring an additional 580 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Denali Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after acquiring an additional 920 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Denali Therapeutics during the 2nd quarter valued at about $194,000. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.