Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $24.00 at JPMorgan Chase & Co.

Denali Therapeutics (NASDAQ:DNLI) had its target price dropped by JPMorgan Chase & Co. from $28.00 to $24.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 12.31% from the stock’s current price.

DNLI has been the topic of several other research reports. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, December 16th. HC Wainwright cut their price objective on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Finally, Robert W. Baird assumed coverage on shares of Denali Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $31.00 price target on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.91.

Denali Therapeutics Trading Up 7.8 %

Shares of NASDAQ DNLI traded up $1.55 during midday trading on Tuesday, reaching $21.37. 1,008,020 shares of the company were exchanged, compared to its average volume of 981,916. The stock has a fifty day simple moving average of $24.46 and a 200 day simple moving average of $24.89. The stock has a market cap of $3.08 billion, a P/E ratio of -7.74 and a beta of 1.39. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the business earned ($0.72) earnings per share. As a group, analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Transactions at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the sale, the chief executive officer now owns 235,807 shares of the company’s stock, valued at $6,529,495.83. The trade was a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $64,402.80. Following the transaction, the director now owns 107,976 shares in the company, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,658 shares of company stock valued at $1,667,943 over the last three months. 7.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after buying an additional 14,324 shares during the period. Principal Financial Group Inc. increased its stake in Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after acquiring an additional 149,939 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Denali Therapeutics by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 80,041 shares of the company’s stock worth $2,148,000 after purchasing an additional 2,901 shares during the period. Barclays PLC lifted its stake in shares of Denali Therapeutics by 101.4% in the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock valued at $7,454,000 after purchasing an additional 128,823 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Denali Therapeutics during the 3rd quarter worth approximately $1,894,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

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.