HC Wainwright Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $87.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective dropped by equities research analysts at HC Wainwright from $90.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 309.41% from the company’s previous close. HC Wainwright also issued estimates for Denali Therapeutics’ FY2028 earnings at $4.16 EPS and FY2029 earnings at $6.29 EPS.

DNLI has been the topic of a number of other reports. William Blair assumed coverage on Denali Therapeutics in a research report on Friday, January 3rd. They set an “outperform” rating on the stock. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday, December 16th. Jefferies Financial Group upped their target price on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. reduced their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.91.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $21.25 on Tuesday. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.33. The company has a market cap of $3.06 billion, a P/E ratio of -7.70 and a beta of 1.39. The firm has a fifty day moving average of $24.34 and a two-hundred day moving average of $24.88.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the previous year, the firm posted ($0.72) earnings per share. As a group, equities analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the transaction, the chief executive officer now directly owns 235,807 shares in the company, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicki L. Sato sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the sale, the director now owns 111,056 shares in the company, valued at $3,331,680. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,518 shares of company stock valued at $2,576,982 over the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Denali Therapeutics by 163.7% during the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock worth $1,162,000 after purchasing an additional 24,767 shares during the last quarter. FMR LLC lifted its position in shares of Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after buying an additional 7,596,508 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Denali Therapeutics by 82.4% in the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after buying an additional 21,975 shares during the period. Integral Health Asset Management LLC bought a new stake in shares of Denali Therapeutics during the 2nd quarter valued at about $7,546,000. Finally, Principal Financial Group Inc. raised its stake in Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after acquiring an additional 149,939 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.