Denali Therapeutics (NASDAQ:DNLI) Hits New 12-Month High – Here’s What Happened

Denali Therapeutics Inc. (NASDAQ:DNLI) reached a new 52-week high during trading on Tuesday . The company traded as high as $26.19 and last traded at $25.89, with a volume of 2176762 shares changing hands. The stock had previously closed at $25.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Stifel Nicolaus set a $41.00 price target on shares of Denali Therapeutics in a research report on Monday, June 22nd. Leerink Partners decreased their target price on Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. UBS Group reiterated a “buy” rating on shares of Denali Therapeutics in a research note on Tuesday, June 16th. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of Denali Therapeutics in a report on Monday, June 22nd. 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 given a Sell rating to the company’s stock. According to MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $34.25.

Denali Therapeutics Stock Performance

The stock has a fifty day moving average of $20.68 and a 200-day moving average of $19.81. The stock has a market cap of $4.11 billion, a PE ratio of -8.99 and a beta of 1.03. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same period last year, the business posted ($0.78) earnings per share. On average, equities analysts forecast that Denali Therapeutics Inc. will post -2.77 EPS for the current year.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Denali Therapeutics by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock valued at $215,586,000 after acquiring an additional 1,064,972 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Denali Therapeutics by 6.2% during the 4th quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock worth $203,253,000 after buying an additional 719,304 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in 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 during the last quarter. Temasek Holdings Private Ltd grew its stake in 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 during the last quarter. Finally, State Street Corp increased its holdings in Denali Therapeutics by 14.6% during the 4th quarter. State Street Corp now owns 6,263,371 shares of the company’s stock valued at $103,408,000 after acquiring an additional 799,110 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Company Profile

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.