Denali Therapeutics (DNLI) Raised to “Buy” at Zacks Investment Research

Denali Therapeutics (NASDAQ:DNLI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, April 3rd. The brokerage currently has a $21.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.38% from the stock’s previous close.

According to Zacks, “Denali Therapeutics Inc. is a biotechnology company. It focused on the discovery and development of therapies for patients with neurodegenerative disease, including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and others. Denali Therapeutics Inc. is based in SOUTH SAN FRANCISCO, United States. “

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Other analysts also recently issued research reports about the company. Goldman Sachs initiated coverage on Denali Therapeutics in a research note on Tuesday, January 2nd. They set a “neutral” rating for the company. Evercore ISI began coverage on Denali Therapeutics in a research report on Tuesday, January 2nd. They issued an “outperform” rating and a $23.00 price objective for the company. Morgan Stanley began coverage on Denali Therapeutics in a research report on Tuesday, January 2nd. They issued an “overweight” rating and a $25.00 price objective for the company. Finally, JPMorgan Chase assumed coverage on Denali Therapeutics in a research report on Tuesday, January 2nd. They issued an “overweight” rating and a $24.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $23.25.

Shares of DNLI stock opened at $19.20 on Tuesday. Denali Therapeutics has a fifty-two week low of $14.72 and a fifty-two week high of $25.79. The stock has a market capitalization of $1,832.87 and a price-to-earnings ratio of -3.26.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Monday, March 19th. The company reported ($0.74) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.47). sell-side analysts anticipate that Denali Therapeutics will post -0.56 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in DNLI. Crestline Management LP acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at $321,782,000. Millennium Management LLC acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at $1,475,000. Bridger Management LLC acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at $4,888,000. Goldman Sachs Group Inc. acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at $2,189,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at $249,000. 60.98% of the stock is owned by hedge funds and other institutional investors.

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Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, engages in discovering and developing therapeutics for neurodegenerative diseases in the United States. The company's lead LRRK2 product candidates includes the DNL201, a small molecule inhibitor that is in Phase I clinical trials, as well as DNL151, a small molecule inhibitor, which is in preclinical development stage for the treatment of Parkinson's disease.

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