William Blair Initiates Coverage on Denali Therapeutics (NASDAQ:DNLI)

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

A number of other analysts have also recently commented on the stock. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price objective on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, December 16th. Finally, Jefferies Financial Group raised their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $40.40.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $20.84 on Friday. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33. The business has a fifty day simple moving average of $24.72 and a two-hundred day simple moving average of $24.84. The company has a market capitalization of $3.00 billion, a P/E ratio of -7.55 and a beta of 1.35.

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

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the transaction, the director now owns 111,056 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, insider Alexander O. Schuth sold 15,558 shares of Denali Therapeutics stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the transaction, the insider now directly owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,578 shares of company stock worth $1,603,540. 7.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds have recently bought and sold shares of the business. FMR LLC lifted its holdings in Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after acquiring an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 purchasing an additional 1,451,770 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Denali Therapeutics in the second quarter worth approximately $24,454,000. Wellington Management Group LLP boosted its holdings in shares of Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after buying an additional 903,683 shares during the last quarter. Finally, Integral Health Asset Management LLC purchased a new stake in Denali Therapeutics during the second quarter valued at approximately $7,546,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

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.