Denali Therapeutics (NASDAQ:DNLI) Given New $27.00 Price Target at Bank of America

Denali Therapeutics (NASDAQ:DNLI) had its target price trimmed by Bank of America from $28.00 to $27.00 in a report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. B. Riley reissued a “buy” rating and set a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. HC Wainwright decreased their price target on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. William Blair upgraded shares of Denali Therapeutics to a “strong-buy” rating in a report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Denali Therapeutics in a research report on Friday, March 7th. They set an “overweight” rating and a $33.00 target price on the stock. Finally, Cantor Fitzgerald raised shares of Denali Therapeutics from a “neutral” rating to an “overweight” rating in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.71.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $13.91 on Monday. Denali Therapeutics has a 52-week low of $10.57 and a 52-week high of $33.33. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -5.04 and a beta of 1.49. The stock has a 50 day moving average price of $14.07 and a 200 day moving average price of $19.46.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same quarter in the previous year, the company posted ($0.68) earnings per share. Analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current year.

Institutional Trading of Denali Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SCS Capital Management LLC purchased a new stake in Denali Therapeutics in the 1st quarter worth $2,692,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Denali Therapeutics by 88.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company’s stock worth $91,996,000 after purchasing an additional 3,184,042 shares during the last quarter. Woodline Partners LP lifted its stake in Denali Therapeutics by 13.5% in the 1st quarter. Woodline Partners LP now owns 113,517 shares of the company’s stock valued at $1,543,000 after buying an additional 13,517 shares in the last quarter. Empowered Funds LLC boosted its holdings in Denali Therapeutics by 11.0% in the 1st quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock worth $281,000 after buying an additional 2,052 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Denali Therapeutics by 58.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock worth $22,732,000 after buying an additional 614,555 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other 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.