Wedbush Cuts Earnings Estimates for Denali Therapeutics

Denali Therapeutics Inc. (NASDAQ:DNLI) – Research analysts at Wedbush lowered their FY2029 EPS estimates for Denali Therapeutics in a report released on Friday, November 7th. Wedbush analyst L. Chico now expects that the company will post earnings per share of $1.08 for the year, down from their previous forecast of $1.27. The consensus estimate for Denali Therapeutics’ current full-year earnings is ($2.71) per share.

Several other research firms have also recently issued reports on DNLI. Morgan Stanley lowered their price objective on Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Denali Therapeutics in a report on Monday, September 8th. JPMorgan Chase & Co. increased their price target on shares of Denali Therapeutics from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, October 8th. Finally, TD Cowen upgraded shares of Denali Therapeutics to a “strong-buy” rating in a report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.64.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $15.02 on Monday. The company has a market cap of $2.20 billion, a P/E ratio of -5.16 and a beta of 1.39. The firm has a fifty day moving average price of $15.08 and a 200 day moving average price of $14.68. The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.01. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.02. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.63) earnings per share.

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in DNLI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Denali Therapeutics by 88.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company’s stock worth $91,996,000 after acquiring an additional 3,184,042 shares during the period. SCS Capital Management LLC purchased a new stake in Denali Therapeutics in the 1st quarter valued at approximately $2,692,000. TT International Asset Management LTD purchased a new stake in Denali Therapeutics in the 2nd quarter valued at approximately $909,000. Strs Ohio acquired a new position in Denali Therapeutics during the 1st quarter worth approximately $324,000. Finally, Millennium Management LLC raised its stake in shares of Denali Therapeutics by 269.4% during the 1st quarter. Millennium Management LLC now owns 1,493,068 shares of the company’s stock worth $20,298,000 after buying an additional 1,088,844 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,937 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value of $39,884.46. Following the completion of the sale, the insider owned 242,346 shares in the company, valued at $3,291,058.68. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carole Ho sold 2,937 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the sale, the insider owned 217,391 shares of the company’s stock, valued at approximately $2,952,169.78. This represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,680 shares of company stock valued at $91,569 over the last three months. Corporate insiders own 12.50% of the company’s stock.

About Denali Therapeutics

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.