The Goldman Sachs Group Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $40.00

Denali Therapeutics (NASDAQ:DNLI) had its target price cut by research analysts at The Goldman Sachs Group from $45.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 73.20% from the stock’s current price.

Other research analysts have also issued reports about the stock. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Jefferies Financial Group increased their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. HC Wainwright decreased their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Robert W. Baird assumed coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Denali Therapeutics Trading Down 0.4 %

Shares of Denali Therapeutics stock traded down $0.10 during mid-day trading on Tuesday, hitting $23.10. 66,966 shares of the stock were exchanged, compared to its average volume of 1,040,472. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $33.33. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -8.34 and a beta of 1.39. The company has a 50-day simple moving average of $22.50 and a 200 day simple moving average of $24.84.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period last year, the firm posted ($0.72) EPS. Equities research analysts forecast that Denali Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In related news, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the sale, the director now directly owns 111,056 shares in the company, valued at $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan J. Watts sold 29,266 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the sale, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,518 shares of company stock worth $1,469,382 over the last ninety days. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of DNLI. Dimensional Fund Advisors LP raised its position in Denali Therapeutics by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after acquiring an additional 84,522 shares in the last quarter. Sei Investments Co. increased its stake in Denali Therapeutics by 87.8% in the 2nd quarter. Sei Investments Co. now owns 22,670 shares of the company’s stock worth $526,000 after purchasing an additional 10,598 shares in the last quarter. Squarepoint Ops LLC increased its stake in Denali Therapeutics by 90.6% in the 2nd quarter. Squarepoint Ops LLC now owns 123,680 shares of the company’s stock worth $2,872,000 after purchasing an additional 58,806 shares in the last quarter. Millennium Management LLC increased its stake in Denali Therapeutics by 58.7% in the 2nd quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock worth $14,395,000 after purchasing an additional 229,313 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Denali Therapeutics by 15.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 172,281 shares of the company’s stock worth $4,000,000 after purchasing an additional 23,165 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

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.