Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $40.00 by Analysts at The Goldman Sachs Group

Denali Therapeutics (NASDAQ:DNLI) had its price objective decreased by The Goldman Sachs Group from $45.00 to $40.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. HC Wainwright lowered their target price on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Cantor Fitzgerald lowered shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group lifted their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Denali Therapeutics Stock Performance

NASDAQ DNLI opened at $23.50 on Tuesday. The business has a fifty day moving average price of $22.48 and a 200 day moving average price of $24.85. The company has a market cap of $3.38 billion, a P/E ratio of -8.51 and a beta of 1.39. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted 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 period in the previous year, the firm earned ($0.72) EPS. As a group, sell-side analysts predict that Denali Therapeutics will post -2.73 EPS for the current fiscal year.

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the completion of the transaction, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the sale, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,518 shares of company stock worth $1,469,382. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors have recently modified their holdings of the business. CWM LLC boosted its holdings in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after purchasing an additional 654 shares during the period. Quest Partners LLC purchased a new position in shares of Denali Therapeutics in the 3rd quarter valued at about $73,000. Assetmark Inc. boosted 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 valued at $111,000 after buying an additional 580 shares during the period. KBC Group NV grew its position in shares of Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after buying an additional 2,731 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Denali Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds 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.