Leerink Partners Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $35.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective decreased by Leerink Partners from $40.00 to $35.00 in a research note published on Wednesday,Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

Several other brokerages also recently commented on DNLI. Robert W. Baird raised their price objective on Denali Therapeutics from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. UBS Group initiated coverage on Denali Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating on the stock. HC Wainwright lifted their price target on Denali Therapeutics from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Stifel Nicolaus lifted their price target on Denali Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Finally, Wolfe Research initiated coverage on Denali Therapeutics in a research note on Monday, February 23rd. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $19.87 on Wednesday. The company has a market capitalization of $3.15 billion, a PE ratio of -6.69 and a beta of 1.10. Denali Therapeutics has a 12 month low of $12.58 and a 12 month high of $23.77. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $20.26 and its 200 day simple moving average is $18.64.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.02. During the same period last year, the company posted ($0.67) EPS. On average, research analysts predict that Denali Therapeutics will post -2.86 EPS for the current year.

Institutional Trading of Denali Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DNLI. Norges Bank acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at about $84,525,000. Holocene Advisors LP raised its stake in shares of Denali Therapeutics by 677.8% in the 3rd quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock valued at $45,531,000 after purchasing an additional 2,732,540 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Denali Therapeutics by 77.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock valued at $63,329,000 after acquiring an additional 1,672,098 shares in the last quarter. Temasek Holdings Private Ltd grew its holdings in shares of Denali Therapeutics by 30.9% in the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock valued at $115,784,000 after acquiring an additional 1,657,142 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Denali Therapeutics by 28.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock valued at $119,766,000 after acquiring an additional 1,615,565 shares in the last quarter. Institutional investors and hedge funds 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.