Denali Therapeutics Inc. (NASDAQ:DNLI) Receives Consensus Recommendation of “Buy” from Brokerages

Denali Therapeutics Inc. (NASDAQ:DNLI) has received an average recommendation of “Buy” from the seventeen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $33.71.

A number of equities analysts have recently issued reports on DNLI shares. William Blair upgraded Denali Therapeutics to a “strong-buy” rating in a research note on Thursday, April 24th. Bank of America lowered their target price on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Robert W. Baird lowered their target price on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Morgan Stanley started coverage on 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, B. Riley reiterated a “buy” rating and set a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th.

Denali Therapeutics Price Performance

DNLI stock opened at $14.70 on Monday. The company has a market cap of $2.14 billion, a P/E ratio of -5.33 and a beta of 1.32. Denali Therapeutics has a 1 year low of $10.57 and a 1 year high of $33.33. The stock’s fifty day moving average price is $13.89 and its 200-day moving average price is $18.10.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period in the previous year, the firm posted ($0.68) earnings per share. As a group, analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Denali Therapeutics

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its position in Denali Therapeutics by 277.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company’s stock worth $29,000 after acquiring an additional 1,551 shares in the last quarter. Sterling Capital Management LLC grew its position in Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after acquiring an additional 1,516 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Denali Therapeutics in the first quarter worth about $41,000. GF Fund Management CO. LTD. purchased a new position in Denali Therapeutics in the fourth quarter worth about $62,000. Finally, Point72 Hong Kong Ltd purchased a new position in Denali Therapeutics in the fourth quarter worth about $65,000. 92.92% of the stock is 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.