Denali Therapeutics (NASDAQ:DNLI) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Denali Therapeutics (NASDAQ:DNLI) announced its earnings results on Thursday. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08, Zacks reports.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $16.56 on Friday. The firm’s 50-day moving average is $21.29 and its 200-day moving average is $24.55. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33. The company has a market cap of $2.38 billion, a P/E ratio of -6.00 and a beta of 1.43.

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the transaction, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares in the company, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DNLI shares. JPMorgan Chase & Co. decreased their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird started coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price for the company. William Blair restated an “outperform” rating on shares of Denali Therapeutics in a research note on Friday. HC Wainwright upped their target price on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

About Denali Therapeutics

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.