Denali Therapeutics (NASDAQ:DNLI) Coverage Initiated by Analysts at Robert W. Baird

Investment analysts at Robert W. Baird initiated coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report issued on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $31.00 price target on the stock. Robert W. Baird’s price objective points to a potential upside of 45.88% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. HC Wainwright cut their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. William Blair began coverage on shares of Denali Therapeutics in a research note on Friday, January 3rd. They issued an “outperform” rating for the company. Stifel Nicolaus raised shares of 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.91.

Denali Therapeutics Stock Performance

Shares of NASDAQ:DNLI opened at $21.25 on Tuesday. The firm’s 50 day simple moving average is $24.34 and its 200-day simple moving average is $24.88. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.33. The firm has a market cap of $3.06 billion, a PE ratio of -7.70 and a beta of 1.39.

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

Insider Buying and Selling

In other news, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $247,796.10. Following the sale, the insider now owns 178,580 shares in the company, valued at $3,610,887.60. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the transaction, the director now owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,518 shares of company stock valued at $2,576,982 over the last ninety days. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Several large investors have recently bought and sold shares of DNLI. Wellington Management Group LLP raised its stake in Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after purchasing an additional 903,683 shares during the last quarter. FMR LLC lifted its stake in shares of Denali Therapeutics by 3,234.3% in the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Denali Therapeutics by 63.2% during 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 valued at $109,223,000 after acquiring an additional 1,451,770 shares in the last quarter. Marshall Wace LLP raised its holdings in Denali Therapeutics by 12.7% in the 2nd quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock valued at $56,165,000 after acquiring an additional 272,454 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock valued at $32,913,000 after acquiring an additional 84,522 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other 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.