Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $28.00 at Bank of America

Denali Therapeutics (NASDAQ:DNLI) had its target price decreased by stock analysts at Bank of America from $30.00 to $28.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 84.82% from the stock’s current price.

A number of other equities research analysts also recently weighed in on DNLI. Robert W. Baird initiated coverage on Denali Therapeutics in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price for the company. Oppenheimer cut their target price on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. HC Wainwright increased their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Morgan Stanley started coverage on Denali Therapeutics in a research note on Friday. They set an “overweight” rating and a $33.00 price objective for the company. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI traded down $1.54 during midday trading on Monday, reaching $15.15. 801,518 shares of the company traded hands, compared to its average volume of 1,003,829. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -5.50 and a beta of 1.46. The stock has a 50-day moving average price of $20.80 and a 200 day moving average price of $24.30. Denali Therapeutics has a 52 week low of $14.01 and a 52 week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. As a group, analysts expect that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the transaction, the director now owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carole Ho sold 12,255 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $247,796.10. Following the completion of the transaction, the insider now directly owns 178,580 shares in the company, valued at $3,610,887.60. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DNLI. Principal Financial Group Inc. grew its position in shares of Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after purchasing an additional 149,939 shares during the last quarter. Assetmark Inc. grew its holdings in Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after buying an additional 580 shares during the last quarter. Victory Capital Management Inc. increased its position in Denali Therapeutics by 163.7% during the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock worth $1,162,000 after acquiring an additional 24,767 shares during the period. Thrivent Financial for Lutherans grew its position in Denali Therapeutics by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 138,862 shares of the company’s stock worth $4,045,000 after buying an additional 8,358 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Denali Therapeutics by 7.7% during the third quarter. Swiss National Bank now owns 250,700 shares of the company’s stock worth $7,303,000 after buying an additional 17,900 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.