Denali Therapeutics (NASDAQ:DNLI) Upgraded 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 note issued to investors on Tuesday, April 3rd. The brokerage presently has a $21.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.47% from the company’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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A number of other research analysts also recently weighed in on the company. JPMorgan Chase began coverage on Denali Therapeutics in a report on Tuesday, January 2nd. They set an “overweight” rating and a $24.00 price target on the stock. Goldman Sachs began coverage on Denali Therapeutics in a research note on Tuesday, January 2nd. They issued a “neutral” rating on the stock. 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 target for the company. Finally, Morgan Stanley initiated coverage on Denali Therapeutics in a research report on Tuesday, January 2nd. They issued an “overweight” rating and a $25.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $23.25.

Shares of DNLI traded down $0.27 during mid-day trading on Tuesday, hitting $19.36. The stock had a trading volume of 100,174 shares, compared to its average volume of 291,147. Denali Therapeutics has a fifty-two week low of $14.72 and a fifty-two week high of $25.79. The firm has a market cap of $1,758.27 and a price-to-earnings ratio of -3.29.

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

Hedge funds have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. bought a new stake in Denali Therapeutics during the 4th quarter worth approximately $166,000. MYDA Advisors LLC bought a new position in Denali Therapeutics in the 4th quarter valued at $188,000. Gilder Gagnon Howe & Co. LLC bought a new position in Denali Therapeutics in the 4th quarter valued at $237,000. Wolverine Asset Management LLC bought a new position in Denali Therapeutics in the 4th quarter valued at $249,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Denali Therapeutics in the 4th quarter valued at $621,000. Institutional investors own 60.98% of the company’s stock.

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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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