Wedbush Issues Pessimistic Forecast for Denali Therapeutics (NASDAQ:DNLI) Stock Price

Denali Therapeutics (NASDAQ:DNLI) had its target price decreased by research analysts at Wedbush from $31.00 to $30.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 69.38% from the stock’s current price.

DNLI has been the topic of several other reports. BTIG Research restated a “buy” rating and issued a $32.00 price target on shares of Denali Therapeutics in a research report on Friday, December 5th. JPMorgan Chase & Co. raised their target price on Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $37.00 target price on Denali Therapeutics in a research report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Denali Therapeutics in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Buy” and an average target price of $32.58.

Denali Therapeutics Price Performance

Shares of DNLI stock traded up $0.14 during midday trading on Thursday, reaching $17.71. 321,262 shares of the company were exchanged, compared to its average volume of 1,556,583. The company has a market cap of $2.60 billion, a P/E ratio of -6.09 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.79 and a current ratio of 9.79. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $24.34. The company’s 50 day moving average price is $16.94 and its two-hundred day moving average price is $15.24.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, November 6th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.02. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.63) earnings per share. On average, sell-side analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 valued at $91,996,000 after buying an additional 3,184,042 shares during the last quarter. SCS Capital Management LLC acquired a new stake in Denali Therapeutics during the 1st quarter valued at $2,692,000. TT International Asset Management LTD bought a new position in Denali Therapeutics during the second quarter worth $909,000. Schroder Investment Management Group boosted its position in Denali Therapeutics by 32.5% during the second quarter. Schroder Investment Management Group now owns 386,539 shares of the company’s stock worth $5,408,000 after purchasing an additional 94,744 shares during the period. Finally, Norges Bank bought a new position in shares of Denali Therapeutics in the second quarter valued at about $55,224,000. Institutional investors 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.