Denali Therapeutics (NASDAQ:DNLI) Upgraded by Baird R W to “Strong-Buy” Rating

Baird R W upgraded shares of Denali Therapeutics (NASDAQ:DNLI) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on DNLI. HC Wainwright reduced their target price on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group increased their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, December 16th. Cantor Fitzgerald lowered shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Robert W. Baird assumed coverage on shares of Denali Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $31.00 price target for the company. Two equities research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.91.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock opened at $21.18 on Tuesday. The company has a market capitalization of $3.05 billion, a P/E ratio of -7.67 and a beta of 1.39. The business has a 50-day moving average of $24.34 and a two-hundred day 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 posted its earnings results 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 last year, the company earned ($0.72) earnings per share. On average, equities analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares in the company, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the transaction, the insider now owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This trade represents a 8.04 % 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 in the last 90 days. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds have recently made changes to their positions in DNLI. JPMorgan Chase & Co. increased its position in Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after purchasing an additional 14,324 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after purchasing an additional 149,939 shares during the period. Franklin Resources Inc. increased its holdings in Denali Therapeutics by 3.8% in the third quarter. Franklin Resources Inc. now owns 80,041 shares of the company’s stock worth $2,148,000 after purchasing an additional 2,901 shares in the last quarter. Barclays PLC boosted its holdings in shares of Denali Therapeutics by 101.4% during the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock worth $7,454,000 after buying an additional 128,823 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Denali Therapeutics during the 3rd quarter valued at $1,894,000. 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.