Denali Therapeutics (NASDAQ:DNLI) Sets New 12-Month High – Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $25.31 and last traded at $24.77, with a volume of 1658265 shares. The stock had previously closed at $24.05.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DNLI shares. UBS Group restated a “buy” rating on shares of Denali Therapeutics in a research report on Tuesday, June 16th. HC Wainwright boosted their price objective on Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Sanford C. Bernstein restated a “hold” rating on shares of Denali Therapeutics in a research report on Monday. Morgan Stanley lowered their price objective on Denali Therapeutics from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.25.

Denali Therapeutics Stock Up 3.0%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.28 and a current ratio of 9.28. The company’s fifty day moving average price is $20.30 and its 200-day moving average price is $19.66. The stock has a market cap of $3.93 billion, a P/E ratio of -8.60 and a beta of 1.03.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the company earned ($0.78) EPS. Equities analysts forecast that Denali Therapeutics Inc. will post -2.77 EPS for the current year.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Defilade Capital Management L.P. lifted its stake in shares of Denali Therapeutics by 107.1% during the 1st quarter. Defilade Capital Management L.P. now owns 1,359,969 shares of the company’s stock worth $26,111,000 after acquiring an additional 703,256 shares during the last quarter. Seven Fleet Capital Management LP bought a new position in Denali Therapeutics in the 1st quarter valued at $677,000. Groupama Asset Managment grew its position in Denali Therapeutics by 36.6% in the 1st quarter. Groupama Asset Managment now owns 207,130 shares of the company’s stock valued at $3,977,000 after acquiring an additional 55,539 shares during the last quarter. Bank of America Corp DE increased its stake in Denali Therapeutics by 21.7% in the first quarter. Bank of America Corp DE now owns 1,134,183 shares of the company’s stock worth $21,776,000 after purchasing an additional 202,039 shares during the period. Finally, Stempoint Capital LP increased its stake in Denali Therapeutics by 1.8% in the first quarter. Stempoint Capital LP now owns 426,561 shares of the company’s stock worth $8,190,000 after purchasing an additional 7,503 shares during the period. 92.92% of the stock is currently 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.