Denali Therapeutics (NASDAQ:DNLI) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Denali Therapeutics (NASDAQ:DNLI) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other research analysts also recently issued reports on the company. Morgan Stanley upped their price objective on Denali Therapeutics from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Robert W. Baird set a $34.00 target price on shares of Denali Therapeutics in a research report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on shares of Denali Therapeutics in a research report on Monday, July 13th. They issued an “overweight” rating and a $29.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Thursday, October 15th. Finally, Wedbush reaffirmed an “outperform” rating and set a $26.00 price target on shares of Denali Therapeutics in a research note on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.85.

Denali Therapeutics Trading Down 1.3%

Shares of Denali Therapeutics stock opened at $18.41 on Friday. The firm has a market capitalization of $2.94 billion, a PE ratio of -6.48 and a beta of 1.02. The company has a current ratio of 8.37, a quick ratio of 8.32 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $21.16 and its 200 day moving average is $21.72. Denali Therapeutics has a 1 year low of $13.75 and a 1 year high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). The company had revenue of $3.60 million for the quarter, compared to analyst estimates of $2.15 million. During the same period last year, the company posted ($0.72) EPS. Equities research analysts forecast that Denali Therapeutics will post -2.70 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,857 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total transaction of $71,624.99. Following the sale, the insider owned 281,763 shares of the company’s stock, valued at approximately $7,063,798.41. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in DNLI. BlackRock Inc. purchased a new stake in shares of Denali Therapeutics during the second quarter valued at approximately $360,759,000. ADAR1 Capital Management LLC boosted its position in Denali Therapeutics by 3,490.9% in the first quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company’s stock worth $35,932,000 after purchasing an additional 1,819,339 shares during the last quarter. Bank of America Corp DE bought a new position in Denali Therapeutics in the 2nd quarter valued at $31,660,000. Pictet Asset Management Holding SA grew its stake in Denali Therapeutics by 92.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,558,865 shares of the company’s stock valued at $48,439,000 after purchasing an additional 1,229,757 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Denali Therapeutics in the 2nd quarter valued at $20,583,000. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics Inc is a biopharmaceutical company focused on discovering and developing therapies for patients with neurodegenerative diseases. The company’s research programs target conditions including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, and lysosomal storage disorders.

Denali uses its blood-brain barrier transport technology, known as the Transport Vehicle platform, to design medicines intended to deliver therapeutic proteins and other biologic treatments into the central nervous system.