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

William Blair started coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a report published on Friday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating on the stock.

A number of other equities analysts have also commented on DNLI. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. decreased their price target on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Cantor Fitzgerald lowered Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Denali Therapeutics Trading Up 2.0 %

Denali Therapeutics stock opened at $21.26 on Friday. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -7.70 and a beta of 1.39. The firm has a 50 day simple moving average of $24.62 and a 200 day simple moving average of $24.88. Denali Therapeutics has a 1-year low of $14.56 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released 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 quarter in the prior year, the company posted ($0.72) earnings per share. On average, equities research analysts forecast that Denali Therapeutics will post -2.71 EPS for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. The trade was a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the sale, the director now owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,658 shares of company stock valued at $1,667,943 over the last quarter. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

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

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.