Zacks Investment Research Lowers Denali Therapeutics (DNLI) to Hold

Zacks Investment Research downgraded shares of Denali Therapeutics (NASDAQ:DNLI) from a buy rating to a hold rating in a report issued on Tuesday morning.

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. “

Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Denali Therapeutics in a research report on Wednesday, November 14th. They issued an overweight rating and a $25.00 price target for the company. Janney Montgomery Scott started coverage on shares of Denali Therapeutics in a research report on Monday, November 12th. They issued a buy rating and a $26.00 price target for the company. Finally, ValuEngine cut shares of Denali Therapeutics from a strong-buy rating to a buy rating in a research report on Tuesday, January 29th.

Shares of NASDAQ DNLI opened at $24.65 on Tuesday. Denali Therapeutics has a 52-week low of $12.32 and a 52-week high of $25.05. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -63.21 and a beta of 2.11.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Tuesday, March 12th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.90. Denali Therapeutics had a negative net margin of 28.06% and a negative return on equity of 7.29%. The firm had revenue of $125.68 million during the quarter, compared to analysts’ expectations of $9.73 million. Equities research analysts predict that Denali Therapeutics will post -1.65 earnings per share for the current year.

In other news, COO Alexander O. Schuth sold 7,500 shares of the stock in a transaction on Friday, January 11th. The shares were sold at an average price of $20.37, for a total transaction of $152,775.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan J. Watts sold 18,333 shares of the stock in a transaction on Friday, January 4th. The stock was sold at an average price of $19.43, for a total transaction of $356,210.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,500 shares of company stock valued at $1,571,274. Corporate insiders own 21.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in Denali Therapeutics by 16.3% during the fourth quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock valued at $179,000 after purchasing an additional 1,212 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Denali Therapeutics in the 4th quarter worth approximately $194,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Denali Therapeutics by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,149 shares of the company’s stock worth $313,000 after acquiring an additional 11,831 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Denali Therapeutics by 200.1% in the 4th quarter. Bank of America Corp DE now owns 17,367 shares of the company’s stock worth $359,000 after acquiring an additional 11,580 shares during the last quarter. Finally, Caxton Associates LP lifted its holdings in shares of Denali Therapeutics by 28.8% in the 4th quarter. Caxton Associates LP now owns 134,047 shares of the company’s stock worth $2,769,000 after acquiring an additional 30,000 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Company Profile

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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