Denali Therapeutics (NASDAQ:DNLI) Coverage Initiated at William Blair

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

DNLI has been the topic of a number of other reports. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a report on Thursday, November 7th. Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $40.40.

Denali Therapeutics Stock Performance

DNLI stock opened at $21.26 on Friday. The business has a 50-day simple moving average of $24.62 and a two-hundred day simple moving average of $24.85. The company has a market capitalization of $3.06 billion, a P/E ratio of -7.70 and a beta of 1.35. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the prior year, the firm earned ($0.72) earnings per share. As a group, sell-side analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander O. Schuth sold 15,558 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the sale, the insider now owns 178,066 shares in the company, valued at approximately $5,325,954.06. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,658 shares of company stock worth $1,667,943. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently bought and sold shares of the company. MONECO Advisors LLC lifted its stake in Denali Therapeutics by 4.6% in the 3rd quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock worth $265,000 after purchasing an additional 400 shares in the last quarter. Assetmark Inc. boosted its stake in Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after buying an additional 580 shares during the period. CWM LLC grew its position in Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after buying an additional 654 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Denali Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after buying an additional 920 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Denali Therapeutics by 5.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock worth $613,000 after acquiring an additional 1,372 shares during the last quarter. 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.