Wall Street Zen Downgrades Denali Therapeutics (NASDAQ:DNLI) to Sell

Denali Therapeutics (NASDAQ:DNLI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Denali Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Friday, July 17th. B. Riley Financial increased their price target on shares of Denali Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Robert W. Baird set a $34.00 price target on shares of Denali Therapeutics in a report on Friday, August 7th. Finally, Wedbush reissued an “outperform” rating and set a $26.00 price objective on shares of Denali Therapeutics in a research note on Monday, July 13th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $35.85.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI opened at $22.28 on Friday. The company has a quick ratio of 8.32, a current ratio of 8.37 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.56 billion, a P/E ratio of -7.85 and a beta of 1.01. Denali Therapeutics has a 52-week low of $12.58 and a 52-week high of $27.30. The stock’s fifty day simple moving average is $24.44 and its 200-day simple moving average is $21.85.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). The firm had revenue of $3.60 million for the quarter, compared to analyst estimates of $2.15 million. During the same period in the previous year, the business posted ($0.72) EPS. As a group, equities research analysts forecast that Denali Therapeutics will post -2.67 earnings per share for the current fiscal year.

Insider Activity

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,768 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total value of $64,881.92. Following the transaction, the insider directly owned 278,995 shares of the company’s stock, valued at $6,539,642.80. This represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Denali Therapeutics in the 2nd quarter worth approximately $360,759,000. Vanguard Group Inc. lifted its stake in Denali Therapeutics by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock worth $215,586,000 after purchasing an additional 1,064,972 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Denali Therapeutics by 28.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock worth $119,766,000 after purchasing an additional 1,615,565 shares during the period. Temasek Holdings Private Ltd boosted its holdings in Denali Therapeutics by 30.9% in the fourth quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock worth $115,784,000 after purchasing an additional 1,657,142 shares during the period. Finally, State Street Corp increased its stake in Denali Therapeutics by 14.6% during the fourth quarter. State Street Corp now owns 6,263,371 shares of the company’s stock valued at $103,408,000 after purchasing an additional 799,110 shares during the last quarter. 92.92% of the stock is currently 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.