Denali Therapeutics (NASDAQ:DNLI) Earns Outperform Rating from Analysts at Robert W. Baird

Robert W. Baird assumed coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $31.00 price objective on the stock.

Several other equities research analysts have also issued reports on DNLI. William Blair began coverage on shares of Denali Therapeutics in a report on Friday, January 3rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, December 16th. Finally, Jefferies Financial Group upped their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.91.

Denali Therapeutics Stock Performance

DNLI opened at $21.25 on Tuesday. The stock has a fifty day moving average of $24.23 and a 200-day moving average of $24.86. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.33. The company has a market capitalization of $3.06 billion, a P/E ratio of -7.70 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly 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 business earned ($0.72) earnings per share. On average, equities research analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the transaction, the insider now owns 178,066 shares in the company, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan J. Watts sold 40,000 shares of the 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 transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,518 shares of company stock worth $2,576,982 over the last quarter. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DNLI. FMR LLC boosted its position 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 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 grew its position in shares of 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 purchasing an additional 1,451,770 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Denali Therapeutics in the second quarter worth $24,454,000. Wellington Management Group LLP raised its position 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 in the last quarter. Finally, Integral Health Asset Management LLC bought a new stake in Denali Therapeutics during the second quarter valued at $7,546,000. 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.