Denali Therapeutics (NASDAQ:DNLI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

by · The Markets Daily

Denali Therapeutics (NASDAQ:DNLIGet Free Report) released its quarterly earnings results on Thursday. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02, FiscalAI reports.

Denali Therapeutics Trading Down 3.9%

DNLI stock traded down $0.87 during mid-day trading on Thursday, reaching $21.42. The company had a trading volume of 1,654,924 shares, compared to its average volume of 1,717,805. The company has a market capitalization of $3.14 billion, a PE ratio of -7.36 and a beta of 1.02. The firm has a 50 day moving average of $18.91 and a 200 day moving average of $17.00. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $23.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.79 and a quick ratio of 9.79.

Insider Buying and Selling

In other Denali Therapeutics news, insider Alexander O. Schuth sold 17,218 shares of Denali Therapeutics stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the completion of the sale, the insider directly owned 282,828 shares of the company’s stock, valued at $4,666,662. The trade was a 5.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 35,198 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $580,767.00. Following the completion of the sale, the chief executive officer owned 296,833 shares of the company’s stock, valued at $4,897,744.50. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently made changes to their positions in DNLI. Headlands Technologies LLC bought a new stake in shares of Denali Therapeutics in the second quarter valued at about $26,000. State of Wyoming purchased a new position in Denali Therapeutics during the 2nd quarter valued at about $29,000. Johnson Financial Group Inc. bought a new stake in shares of Denali Therapeutics in the 3rd quarter valued at about $29,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Denali Therapeutics in the 4th quarter valued at about $57,000. Finally, Quarry LP purchased a new stake in shares of Denali Therapeutics in the 3rd quarter worth approximately $64,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Analysts Set New Price Targets

DNLI has been the topic of several recent analyst reports. Wolfe Research assumed coverage on shares of Denali Therapeutics in a research note on Monday. They issued a “peer perform” rating on the stock. UBS Group began coverage on shares of Denali Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Wedbush dropped their target price on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Finally, Stifel Nicolaus set a $37.00 price target on Denali Therapeutics in a report on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Denali Therapeutics has an average rating of “Moderate Buy” and an average price target of $32.27.

View Our Latest Analysis on Denali Therapeutics

Denali Therapeutics Company Profile

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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.

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