Bank of America Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $28.00

Denali Therapeutics (NASDAQ:DNLI) had its price target reduced by equities research analysts at Bank of America from $30.00 to $28.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 84.82% from the company’s previous close.

A number of other equities analysts also recently commented on the company. B. Riley restated a “buy” rating and issued a $35.00 price objective (down from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Oppenheimer decreased their price objective on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased 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. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

Denali Therapeutics Price Performance

DNLI stock traded down $1.54 on Monday, hitting $15.15. 801,518 shares of the company were exchanged, compared to its average volume of 1,003,829. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -5.50 and a beta of 1.46. Denali Therapeutics has a twelve month low of $14.01 and a twelve month high of $33.33. The business’s fifty day moving average is $20.80 and its two-hundred day moving average is $24.30.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. Equities research analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the transaction, the chief executive officer now owns 260,721 shares of the company’s stock, valued at $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock worth $973,442 over the last quarter. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Several hedge funds have recently made changes to their positions in DNLI. Vanguard Group Inc. increased its position in Denali Therapeutics by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after buying an additional 843,996 shares during the period. Wellington Management Group LLP increased its holdings in shares of Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after acquiring an additional 903,683 shares during the period. FMR LLC lifted its position in Denali Therapeutics by 2.4% in the 4th quarter. FMR LLC now owns 8,019,746 shares of the company’s stock valued at $163,442,000 after purchasing an additional 188,368 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Denali Therapeutics by 63.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after purchasing an additional 1,451,770 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Denali Therapeutics by 8.8% during the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company’s stock valued at $67,573,000 after purchasing an additional 268,378 shares during the period. Institutional investors own 92.92% 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.