Denali Therapeutics (NASDAQ:DNLI) Price Target Raised to $29.00 at JPMorgan Chase & Co.

Denali Therapeutics (NASDAQ:DNLIFree Report) had its price objective raised by JPMorgan Chase & Co. from $28.00 to $29.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also weighed in on DNLI. Stifel Nicolaus cut their price objective on shares of Denali Therapeutics from $26.00 to $22.00 and set a hold rating on the stock in a report on Wednesday, May 8th. UBS Group cut their target price on shares of Denali Therapeutics from $70.00 to $32.00 and set a buy rating on the stock in a report on Tuesday, April 9th. Wedbush cut their target price on shares of Denali Therapeutics from $31.00 to $30.00 and set an outperform rating on the stock in a report on Wednesday, May 8th. Finally, HC Wainwright reiterated a buy rating and issued a $95.00 target price on shares of Denali Therapeutics in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $40.33.

View Our Latest Analysis on DNLI

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $21.65 on Wednesday. The company’s 50 day simple moving average is $20.38 and its 200 day simple moving average is $19.26. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $30.79. The firm has a market capitalization of $3.09 billion, a P/E ratio of -22.55 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLIGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.01. During the same quarter last year, the business earned ($0.80) earnings per share. Sell-side analysts expect that Denali Therapeutics will post -2.78 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other news, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares of the company’s stock, valued at $435,425.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares of the company’s stock, valued at $435,425.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the sale, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The disclosure for this sale can be found here. Insiders sold 33,812 shares of company stock valued at $740,745 over the last quarter. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Denali Therapeutics by 879.5% in the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after purchasing an additional 1,847 shares in the last quarter. Bayesian Capital Management LP bought a new position in Denali Therapeutics in the first quarter valued at $447,000. Baker BROS. Advisors LP grew its position in Denali Therapeutics by 43.1% in the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after purchasing an additional 1,124,499 shares in the last quarter. Altitude Crest Partners Inc. bought a new position in Denali Therapeutics in the first quarter valued at $4,301,000. Finally, Capital Research Global Investors grew its position in Denali Therapeutics by 107.9% in the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after purchasing an additional 3,140,429 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

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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.

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Analyst Recommendations for Denali Therapeutics (NASDAQ:DNLI)

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