Denali Therapeutics (NASDAQ:DNLI) Stock Price Expected to Rise, Robert W. Baird Analyst Says
by Tristan Rich · The Markets DailyDenali Therapeutics (NASDAQ:DNLI – Get Free Report) had its price objective lifted by Robert W. Baird from $29.00 to $32.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 42.41% from the stock’s previous close.
DNLI has been the subject of a number of other reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Denali Therapeutics in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Wednesday, January 21st. UBS Group assumed coverage on Denali Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $40.00 target price on shares of Denali Therapeutics in a report on Thursday, January 8th. Finally, Wedbush decreased their price target on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $33.70.
View Our Latest Analysis on Denali Therapeutics
Denali Therapeutics Price Performance
Shares of DNLI opened at $22.47 on Thursday. The stock has a 50 day simple moving average of $20.41 and a 200 day simple moving average of $17.80. Denali Therapeutics has a 52-week low of $10.57 and a 52-week high of $23.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. The firm has a market capitalization of $3.56 billion, a PE ratio of -7.57 and a beta of 1.02.
Denali Therapeutics (NASDAQ:DNLI – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same quarter in the prior year, the business posted ($0.67) earnings per share. Sell-side analysts predict that Denali Therapeutics will post -2.71 EPS for the current fiscal year.
Insiders Place Their Bets
In other Denali Therapeutics news, CEO Ryan J. Watts sold 35,198 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $580,767.00. Following the completion of the sale, the chief executive officer directly owned 296,833 shares in the company, valued at $4,897,744.50. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander O. Schuth sold 17,218 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $284,097.00. Following the completion of the transaction, the insider directly owned 282,828 shares in the company, valued at $4,666,662. The trade was a 5.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 12.50% of the company’s stock.
Institutional Trading of Denali Therapeutics
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Denali Therapeutics by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock worth $215,586,000 after buying an additional 1,064,972 shares during the period. Baillie Gifford & Co. increased its position in Denali Therapeutics by 6.2% during the fourth quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock worth $203,253,000 after acquiring an additional 719,304 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Denali Therapeutics by 28.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock worth $119,766,000 after purchasing an additional 1,615,565 shares in the last quarter. Temasek Holdings Private Ltd raised its stake in Denali Therapeutics by 30.9% in the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock worth $115,784,000 after purchasing an additional 1,657,142 shares in the last quarter. Finally, State Street Corp boosted its holdings in Denali Therapeutics by 14.6% in the 4th quarter. State Street Corp now owns 6,263,371 shares of the company’s stock valued at $103,408,000 after purchasing an additional 799,110 shares during the period. 92.92% of the stock is currently owned by institutional investors.
Denali Therapeutics Company Profile
Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.
Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.