Denali Therapeutics (NASDAQ:DNLI) Shares Gap Up Following Analyst Upgrade

Posted by Defense World Staff on Apr 13th, 2023

Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) gapped up before the market opened on Wednesday after Morgan Stanley raised their price target on the stock from $61.00 to $63.00. The stock had previously closed at $23.84, but opened at $25.50. Denali Therapeutics shares last traded at $25.06, with a volume of 121,180 shares changing hands.

A number of other equities research analysts have also recently issued reports on DNLI. Wedbush lowered their target price on shares of Denali Therapeutics from $46.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 28th. Evercore ISI reduced their target price on Denali Therapeutics from $80.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Stifel Nicolaus reduced their target price on Denali Therapeutics from $36.00 to $32.00 in a report on Thursday, March 2nd. Oppenheimer reduced their target price on Denali Therapeutics from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. Finally, SVB Leerink reissued an “outperform” rating and issued a $50.00 price target on shares of Denali Therapeutics in a report on Monday, January 30th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $54.75.

Insider Transactions at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 10,000 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $29.53, for a total value of $295,300.00. Following the transaction, the insider now owns 497,173 shares of the company’s stock, valued at approximately $14,681,518.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Denali Therapeutics news, insider Alexander O. Schuth sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $29.53, for a total transaction of $295,300.00. Following the transaction, the insider now directly owns 497,173 shares in the company, valued at $14,681,518.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 33,815 shares of Denali Therapeutics stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $30.08, for a total transaction of $1,017,155.20. Following the transaction, the chief executive officer now directly owns 2,239,913 shares in the company, valued at $67,376,583.04. The disclosure for this sale can be found here. Insiders have sold 77,198 shares of company stock valued at $2,294,299 in the last quarter. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. purchased a new stake in Denali Therapeutics during the 3rd quarter valued at about $35,000. PNC Financial Services Group Inc. raised its holdings in Denali Therapeutics by 85.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,669 shares of the company’s stock valued at $46,000 after buying an additional 768 shares during the last quarter. Sandia Investment Management LP bought a new stake in Denali Therapeutics during the 4th quarter valued at $70,000. Exchange Traded Concepts LLC raised its holdings in Denali Therapeutics by 18.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,584 shares of the company’s stock valued at $72,000 after buying an additional 408 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Denali Therapeutics by 43.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,313 shares of the company’s stock valued at $101,000 after buying an additional 1,005 shares during the last quarter. 67.26% of the stock is owned by institutional investors.

Denali Therapeutics Trading Up 1.2 %

The company has a market capitalization of $3.30 billion, a P/E ratio of -9.28 and a beta of 1.34. The stock’s fifty day moving average is $26.20 and its 200 day moving average is $28.42.

Denali Therapeutics (NASDAQ:DNLI – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.02. The company had revenue of $10.28 million for the quarter, compared to the consensus estimate of $11.29 million. Denali Therapeutics had a negative return on equity of 35.67% and a negative net margin of 300.55%. Denali Therapeutics’s revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.62) EPS. On average, analysts expect that Denali Therapeutics Inc. will post -3.48 EPS for the current fiscal year.

About Denali Therapeutics

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Denali Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates for neurodegenerative diseases. Its product pipeline includes LRRK2, RIPK1, TREM2, and Tau. The company was founded by Ryan J. Watts, Marc Tessier-Lavigne, and Alexander Schuth on October 14, 2013 and is headquartered in San Francisco, CA.