Denali Therapeutics (NASDAQ:DNLI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Denali Therapeutics (NASDAQ:DNLI) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

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 also recently issued reports on the stock. ValuEngine upgraded shares of WPP from a sell rating to a hold rating in a research note on Wednesday, June 19th. HC Wainwright restated a buy rating on shares of ACASTI PHARM-TS in a research note on Wednesday, June 26th. Finally, TheStreet upgraded shares of SUMMIT THERAPEU/S from a d rating to a c- rating in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $25.50.

NASDAQ DNLI opened at $20.82 on Tuesday. The company has a quick ratio of 11.55, a current ratio of 11.55 and a debt-to-equity ratio of 0.14. Denali Therapeutics has a 1 year low of $12.32 and a 1 year high of $28.86. The firm has a market capitalization of $1.99 billion, a P/E ratio of -53.38 and a beta of 2.12. The company has a fifty day moving average of $19.97.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Denali Therapeutics had a negative net margin of 38.84% and a negative return on equity of 10.23%. The company had revenue of $4.21 million during the quarter, compared to analyst estimates of $12.88 million. As a group, sell-side analysts anticipate that Denali Therapeutics will post -1.54 earnings per share for the current year.

In other news, COO Alexander O. Schuth sold 7,500 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $22.05, for a total transaction of $165,375.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan J. Watts sold 18,334 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $24.20, for a total transaction of $443,682.80. The disclosure for this sale can be found here. Insiders have sold 130,000 shares of company stock valued at $2,715,736 in the last quarter. Insiders own 21.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in Denali Therapeutics by 16.3% during the fourth quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock worth $179,000 after purchasing an additional 1,212 shares in the last quarter. SG Americas Securities LLC purchased a new position in Denali Therapeutics during the first quarter worth about $208,000. Ibex Investors LLC purchased a new position in Denali Therapeutics during the first quarter worth about $209,000. Amundi Pioneer Asset Management Inc. purchased a new position in Denali Therapeutics during the fourth quarter worth about $194,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Denali Therapeutics during the second quarter worth about $210,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

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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