Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $42.00 at Oppenheimer

Denali Therapeutics (NASDAQ:DNLI) had its price target cut by investment analysts at Oppenheimer from $50.00 to $42.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 174.96% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, December 16th. The Goldman Sachs Group reduced their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, HC Wainwright upped their price target on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.77.

Denali Therapeutics Stock Performance

Denali Therapeutics stock traded down $1.29 during mid-day trading on Monday, reaching $15.28. The company’s stock had a trading volume of 1,025,125 shares, compared to its average volume of 988,117. The firm’s fifty day moving average price is $21.29 and its two-hundred day moving average price is $24.57. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33. The company has a market capitalization of $2.20 billion, a P/E ratio of -5.55 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, research analysts predict that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Activity

In other news, 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 transaction, the director now directly owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction dated Monday, January 6th. The stock was 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. This represents a 10.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its stake in shares of Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,516 shares during the period. GF Fund Management CO. LTD. bought a new stake in Denali Therapeutics during the 4th quarter valued at $62,000. Point72 Hong Kong Ltd purchased a new stake in Denali Therapeutics during the 4th quarter valued at $65,000. Quest Partners LLC bought a new stake in Denali Therapeutics in the 3rd quarter worth $73,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Denali Therapeutics by 30.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after acquiring an additional 885 shares during the period. 92.92% of the stock is currently owned by institutional investors.

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.