Denali Therapeutics (NASDAQ:DNLI) Earns Outperform Rating from Analysts at William Blair

Equities research analysts at William Blair started coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set an “outperform” rating on the stock.

Several other research firms have also recently issued reports on DNLI. JPMorgan Chase & Co. cut their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a report on Thursday, November 7th. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Finally, Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Denali Therapeutics Trading Up 2.3 %

Shares of NASDAQ:DNLI opened at $20.84 on Friday. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33. The company has a market cap of $3.00 billion, a PE ratio of -7.55 and a beta of 1.35. The stock has a 50 day moving average of $24.72 and a 200 day moving average of $24.84.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the firm earned ($0.72) EPS. Equities research analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the sale, the director now owns 111,056 shares of the company’s stock, valued at $3,331,680. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares in the company, valued at approximately $6,529,495.83. This represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,578 shares of company stock worth $1,603,540. Company insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after buying an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Denali Therapeutics by 63.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after acquiring an additional 1,451,770 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Denali Therapeutics during the second quarter worth approximately $24,454,000. Wellington Management Group LLP raised its stake in shares of Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after acquiring an additional 903,683 shares in the last quarter. Finally, Integral Health Asset Management LLC purchased a new stake in shares of Denali Therapeutics in the second quarter valued at approximately $7,546,000. 92.92% of the stock is currently owned by institutional investors.

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.