Denali Therapeutics (NASDAQ:DNLI) Price Target Increased to $32.00 by Analysts at Citigroup

Denali Therapeutics (NASDAQ:DNLI) had its target price hoisted by Citigroup from $26.00 to $32.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on DNLI. Stifel Nicolaus cut their price target on Denali Therapeutics from $26.00 to $22.00 and set a hold rating for the company in a research note on Wednesday, May 8th. UBS Group dropped their price target on shares of Denali Therapeutics from $70.00 to $32.00 and set a buy rating for the company in a research report on Tuesday, April 9th. HC Wainwright reiterated a buy rating and set a $95.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, May 8th. Wedbush lowered their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an outperform rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Denali Therapeutics from $28.00 to $29.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $39.89.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock traded down $1.46 during midday trading on Friday, hitting $21.87. The company had a trading volume of 1,478,454 shares, compared to its average volume of 1,029,904. The stock has a market capitalization of $3.12 billion, a P/E ratio of -22.78 and a beta of 1.40. The company has a 50 day moving average of $21.85 and a 200 day moving average of $19.61. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $28.31.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.10. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. Denali Therapeutics’s quarterly revenue was down 99.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. Equities research analysts forecast that Denali Therapeutics will post -2.77 EPS for the current year.

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the sale, the director now owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the transaction, the director now owns 34,404 shares in the company, valued at approximately $761,016.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer E. Cook sold 1,458 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the transaction, the director now owns 20,038 shares in the company, valued at approximately $435,425.74. The disclosure for this sale can be found here. Insiders sold a total of 32,146 shares of company stock valued at $710,274 in the last quarter. 7.90% of the stock is currently owned by insiders.

Institutional Trading of Denali Therapeutics

A number of hedge funds have recently made changes to their positions in DNLI. CWM LLC raised its position in shares of Denali Therapeutics by 216.7% during the fourth quarter. CWM LLC now owns 2,011 shares of the company’s stock worth $43,000 after acquiring an additional 1,376 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after acquiring an additional 1,847 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after acquiring an additional 807 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Denali Therapeutics during the fourth quarter valued at approximately $59,000. Finally, Assetmark Inc. boosted its position in shares of Denali Therapeutics by 65.3% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock valued at $76,000 after buying an additional 1,402 shares during the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

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.