Equities research analysts at Janney Montgomery Scott started coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $26.00 price target on the stock. Janney Montgomery Scott’s price objective would indicate a potential upside of 50.55% from the stock’s previous close.
Separately, Zacks Investment Research cut shares of Denali Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.80.
NASDAQ:DNLI opened at $17.27 on Monday. Denali Therapeutics has a 1-year low of $12.32 and a 1-year high of $25.79. The firm has a market capitalization of $1.58 billion and a P/E ratio of -2.93.
In other Denali Therapeutics news, insider Ryan J. Watts sold 18,333 shares of Denali Therapeutics stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $19.06, for a total transaction of $349,426.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carole Ho sold 17,500 shares of Denali Therapeutics stock in a transaction on Monday, October 1st. The stock was sold at an average price of $21.72, for a total transaction of $380,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,167 shares of company stock valued at $1,060,456. Company insiders own 21.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can bought a new position in Denali Therapeutics during the third quarter worth $161,000. Osborn Williams & Donohoe LLC bought a new position in Denali Therapeutics during the third quarter worth $217,000. Trexquant Investment LP bought a new position in Denali Therapeutics during the second quarter worth $155,000. JPMorgan Chase & Co. boosted its position in Denali Therapeutics by 207.3% during the third quarter. JPMorgan Chase & Co. now owns 10,554 shares of the company’s stock worth $229,000 after purchasing an additional 7,120 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Denali Therapeutics by 5,364.5% during the first quarter. UBS Group AG now owns 10,929 shares of the company’s stock worth $215,000 after buying an additional 10,729 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.
About Denali Therapeutics
Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.
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