Denali Therapeutics (NASDAQ:DNLI) Stock Rating Reaffirmed by HC Wainwright

Posted by Defense World Staff on Aug 13th, 2023

HC Wainwright reaffirmed their buy rating on shares of Denali Therapeutics (NASDAQ:DNLI – Free Report) in a research note released on Wednesday, Benzinga reports. HC Wainwright currently has a $105.00 price objective on the stock. HC Wainwright also issued estimates for Denali Therapeutics’ FY2023 earnings at ($1.02) EPS, FY2024 earnings at $0.43 EPS, FY2025 earnings at $2.06 EPS, FY2026 earnings at ($1.16) EPS and FY2027 earnings at $1.67 EPS.

A number of other equities research analysts have also weighed in on DNLI. Wedbush cut their price objective on Denali Therapeutics from $37.00 to $31.00 and set an outperform rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their target price on Denali Therapeutics to $30.00 in a research note on Tuesday, May 9th. Finally, Morgan Stanley raised their target price on Denali Therapeutics from $61.00 to $63.00 and gave the company an overweight rating in a research note on Wednesday, April 12th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $55.64.

Get Our Latest Analysis on Denali Therapeutics

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $24.10 on Wednesday. The firm has a market cap of $3.31 billion, a P/E ratio of -22.11 and a beta of 1.31. Denali Therapeutics has a fifty-two week low of $21.74 and a fifty-two week high of $38.85. The business’s 50 day moving average price is $29.18 and its 200-day moving average price is $27.81.

Denali Therapeutics (NASDAQ:DNLI – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $1.99. The firm had revenue of $294.10 million for the quarter, compared to analyst estimates of $39.51 million. Denali Therapeutics had a negative return on equity of 12.81% and a negative net margin of 37.42%. The business’s quarterly revenue was up 460.2% compared to the same quarter last year. During the same period last year, the company earned ($0.48) EPS. As a group, equities analysts predict that Denali Therapeutics will post -2.28 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $29.84, for a total transaction of $49,713.44. Following the completion of the transaction, the director now owns 134,703 shares in the company, valued at $4,019,537.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $29.84, for a total value of $49,713.44. Following the completion of the transaction, the director now owns 134,703 shares in the company, valued at $4,019,537.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander O. Schuth sold 10,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $29.60, for a total value of $296,000.00. Following the completion of the transaction, the insider now owns 528,691 shares of the company’s stock, valued at approximately $15,649,253.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,332 shares of company stock worth $681,027. 7.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DNLI. Norges Bank bought a new stake in shares of Denali Therapeutics in the fourth quarter worth $28,483,000. State Street Corp grew its holdings in shares of Denali Therapeutics by 26.4% in the first quarter. State Street Corp now owns 3,826,792 shares of the company’s stock worth $123,108,000 after acquiring an additional 799,221 shares during the period. Millennium Management LLC bought a new stake in shares of Denali Therapeutics in the second quarter worth $18,992,000. BlackRock Inc. grew its holdings in shares of Denali Therapeutics by 6.7% in the second quarter. BlackRock Inc. now owns 10,106,275 shares of the company’s stock worth $298,236,000 after acquiring an additional 631,878 shares during the period. Finally, Temasek Holdings Private Ltd grew its holdings in shares of Denali Therapeutics by 5.8% in the first quarter. Temasek Holdings Private Ltd now owns 6,895,992 shares of the company’s stock worth $158,884,000 after acquiring an additional 379,951 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

About Denali Therapeutics

(Get Free Report)

Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative and lysosomal diseases in the United States and internationally. It offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidate, including BIIB122/DNL151, a small molecule inhibitor, which is in phase I and phase Ib clinical trials for the treatment of Parkinson's disease; TAK-594/DNL593, which is in Phase I/II clinical trials for the treatment of frontotemporal dementia-granulin; TAK-920/DNL919, which is in Phase I clinical trials for the treatment of Alzheimer's disease.