Wedbush Cuts Earnings Estimates for Denali Therapeutics

Denali Therapeutics Inc. (NASDAQ:DNLI) – Research analysts at Wedbush cut their FY2024 earnings estimates for shares of Denali Therapeutics in a note issued to investors on Thursday, November 7th. Wedbush analyst L. Chico now anticipates that the company will post earnings of ($2.72) per share for the year, down from their previous estimate of ($2.49). Wedbush currently has a “Outperform” rating and a $26.00 target price on the stock. The consensus estimate for Denali Therapeutics’ current full-year earnings is ($2.53) per share. Wedbush also issued estimates for Denali Therapeutics’ Q4 2024 earnings at ($0.82) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.83) EPS, Q3 2025 earnings at ($0.84) EPS, Q4 2025 earnings at ($0.84) EPS, FY2025 earnings at ($3.34) EPS, FY2026 earnings at ($3.08) EPS, FY2027 earnings at ($2.29) EPS and FY2028 earnings at ($0.86) EPS.

Several other brokerages have also issued reports on DNLI. Jefferies Financial Group raised their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup raised their price objective on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a report on Thursday. Bank of America raised their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. dropped their price target 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

Denali Therapeutics Trading Up 5.9 %

DNLI stock opened at $31.35 on Monday. The company’s 50 day moving average is $27.81 and its two-hundred day moving average is $23.62. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $32.13. The stock has a market cap of $4.51 billion, a P/E ratio of -11.36 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period last year, the business earned ($0.72) earnings per share.

Insider Transactions at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 235,807 shares in the company, valued at $6,529,495.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the sale, the chief executive officer now owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the completion of the transaction, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MONECO Advisors LLC increased its position in Denali Therapeutics by 4.6% during the 3rd quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock worth $265,000 after purchasing an additional 400 shares in the last quarter. Assetmark Inc. grew its stake in shares of Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after buying an additional 580 shares during the period. CWM LLC grew its position in Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after acquiring an additional 654 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Denali Therapeutics by 5.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock worth $613,000 after purchasing an additional 1,372 shares during the period. Institutional investors and hedge funds 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.