BTIG Research Reaffirms Buy Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a report released on Friday,Benzinga reports. They currently have a $32.00 target price on the stock. BTIG Research’s price target suggests a potential upside of 51.80% from the company’s current price.

Several other equities analysts also recently commented on DNLI. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Wednesday, January 21st. Wedbush lowered their price objective on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, December 11th. Stifel Nicolaus set a $37.00 target price on shares of Denali Therapeutics in a report on Monday, November 17th. JPMorgan Chase & Co. raised their price target on shares of Denali Therapeutics from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 target price on shares of Denali Therapeutics in a report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $32.17.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $21.08 on Friday. The company has a 50 day moving average of $18.47 and a 200-day moving average of $16.45. The company has a market cap of $3.09 billion, a PE ratio of -7.24 and a beta of 1.02. The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.01. Denali Therapeutics has a 1-year low of $10.57 and a 1-year high of $23.77.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, November 6th. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.02. During the same period last year, the company posted ($0.63) earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 17,218 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $284,097.00. Following the completion of the transaction, the insider owned 282,828 shares of the company’s stock, valued at $4,666,662. The trade was a 5.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 35,198 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $580,767.00. Following the completion of the transaction, the chief executive officer directly owned 296,833 shares in the company, valued at $4,897,744.50. The trade was a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

A number of large investors have recently added to or reduced their stakes in DNLI. Intrust Bank NA raised its holdings in shares of Denali Therapeutics by 5.6% during the 4th quarter. Intrust Bank NA now owns 11,164 shares of the company’s stock valued at $184,000 after buying an additional 589 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Denali Therapeutics by 15.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,612 shares of the company’s stock worth $79,000 after acquiring an additional 753 shares in the last quarter. Pier 88 Investment Partners LLC boosted its stake in shares of Denali Therapeutics by 1.1% in the 4th quarter. Pier 88 Investment Partners LLC now owns 68,200 shares of the company’s stock valued at $1,126,000 after purchasing an additional 760 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Denali Therapeutics by 1.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 56,368 shares of the company’s stock valued at $818,000 after purchasing an additional 920 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Denali Therapeutics by 7.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,522 shares of the company’s stock valued at $189,000 after purchasing an additional 930 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.