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

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

Several other research firms have also issued reports on DNLI. Robert W. Baird assumed coverage on Denali Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $31.00 price objective for the company. HC Wainwright decreased their price objective on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Jefferies Financial Group increased their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their target price on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.91.

Denali Therapeutics Stock Up 6.9 %

Shares of DNLI opened at $21.18 on Tuesday. The business’s fifty day moving average is $24.34 and its 200 day moving average is $24.88. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33. The stock has a market cap of $3.05 billion, a P/E ratio of -7.67 and a beta of 1.39.

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 the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the company posted ($0.72) EPS. On average, analysts expect that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Activity

In related news, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was 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 owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This represents a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the sale, the insider now directly 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 59,658 shares of company stock valued at $1,667,943 in the last ninety days. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock worth $1,162,000 after purchasing an additional 24,767 shares during the period. FMR LLC grew its stake in Denali Therapeutics by 3,234.3% in the 3rd 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. Algert Global LLC lifted its holdings in Denali Therapeutics by 82.4% during the third quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after purchasing an additional 21,975 shares in the last quarter. Integral Health Asset Management LLC purchased a new stake in shares of Denali Therapeutics during the second quarter worth about $7,546,000. Finally, Principal Financial Group Inc. boosted its holdings in Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after buying an additional 149,939 shares during the last quarter. 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.