Denali Therapeutics (NASDAQ:DNLI) Given New $30.00 Price Target at Morgan Stanley

Denali Therapeutics (NASDAQ:DNLI) had its price objective lowered by Morgan Stanley from $33.00 to $30.00 in a research report released on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

DNLI has been the subject of several other research reports. William Blair raised Denali Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th. Robert W. Baird decreased their target price on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Wedbush decreased their target price on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Bank of America decreased their target price on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Finally, HC Wainwright reduced their price objective on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $33.62.

Denali Therapeutics Trading Up 0.8%

NASDAQ DNLI opened at $14.82 on Monday. Denali Therapeutics has a fifty-two week low of $10.57 and a fifty-two week high of $33.33. The stock has a market cap of $2.17 billion, a P/E ratio of -5.29 and a beta of 1.36. The stock has a 50 day simple moving average of $14.30 and a two-hundred day simple moving average of $15.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.02. During the same period in the prior year, the business posted ($0.59) earnings per share. On average, analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the sale, the chief executive officer directly owned 253,071 shares in the company, valued at approximately $3,796,065. This trade represents a 66.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander O. Schuth sold 2,937 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value of $39,884.46. Following the sale, the insider owned 242,346 shares in the company, valued at approximately $3,291,058.68. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,962 shares of company stock worth $7,520,799. Insiders own 12.50% of the company’s stock.

Institutional Trading of Denali Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Denali Therapeutics by 15.9% during the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company’s stock valued at $155,113,000 after purchasing an additional 1,561,647 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Denali Therapeutics by 88.9% in the first 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 acquiring an additional 3,184,042 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Denali Therapeutics by 42.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company’s stock worth $59,373,000 after acquiring an additional 1,308,619 shares during the period. Norges Bank bought a new stake in shares of Denali Therapeutics in the second quarter worth $55,224,000. Finally, Geode Capital Management LLC grew its holdings in shares of Denali Therapeutics by 4.4% in the second quarter. Geode Capital Management LLC now owns 3,172,305 shares of the company’s stock worth $44,386,000 after acquiring an additional 135,129 shares during the period. 92.92% of the stock is currently owned by hedge funds and other 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.