BTIG Research Forecasts Strong Price Appreciation for Denali Therapeutics (NASDAQ:DNLI) Stock

Denali Therapeutics (NASDAQ:DNLI) had its price objective lifted by equities research analysts at BTIG Research from $32.00 to $36.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 79.82% from the company’s current price.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, January 21st. Wolfe Research began coverage on Denali Therapeutics in a research report on Monday, February 23rd. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of Denali Therapeutics from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Morgan Stanley reiterated an “overweight” rating and issued a $40.00 target price on shares of Denali Therapeutics in a research note on Thursday, January 8th. Finally, Stifel Nicolaus set a $37.00 price target on shares of Denali Therapeutics in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.45.

Denali Therapeutics Trading Down 4.7%

Shares of Denali Therapeutics stock opened at $20.02 on Monday. The stock has a market cap of $3.17 billion, a PE ratio of -6.74 and a beta of 1.02. The firm has a fifty day moving average price of $19.23 and a 200 day moving average price of $17.20. Denali Therapeutics has a 1 year low of $10.57 and a 1 year high of $23.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.16 and a quick ratio of 9.16.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02. During the same period last year, the company earned ($0.67) EPS. Equities research analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander O. Schuth sold 17,218 shares of the business’s stock in a transaction 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 sale, the insider owned 282,828 shares of the company’s stock, valued at approximately $4,666,662. The trade was a 5.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 35,198 shares of the company’s 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 transaction, the chief executive officer owned 296,833 shares of the company’s stock, valued at $4,897,744.50. This represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Denali Therapeutics in the 4th quarter worth about $84,525,000. Holocene Advisors LP increased its stake in Denali Therapeutics by 677.8% during the 3rd quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock worth $45,531,000 after buying an additional 2,732,540 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Denali Therapeutics by 77.3% during the fourth 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 during the last quarter. Temasek Holdings Private Ltd lifted its position in shares of Denali Therapeutics by 30.9% in the fourth 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. lifted its position in shares of Denali Therapeutics by 28.7% in the fourth 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. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.