William Blair Reiterates Outperform Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “outperform” rating restated by analysts at William Blair in a research note issued on Friday,RTT News reports.

A number of other research analysts have also weighed in on DNLI. HC Wainwright upped their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price objective on the stock. Baird R W raised Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Robert W. Baird began coverage on Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price on the stock. Finally, Jefferies Financial Group upped their target price on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Denali Therapeutics Trading Down 11.0 %

NASDAQ:DNLI opened at $16.56 on Friday. The stock’s 50 day simple moving average is $21.29 and its 200-day simple moving average is $24.55. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33. The firm has a market cap of $2.38 billion, a P/E ratio of -6.00 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. Research analysts forecast that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Activity

In other news, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the sale, the insider now directly owns 178,580 shares in the company, valued at $3,610,887.60. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction 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 sale, the director now owns 107,976 shares in the company, valued at $2,257,778.16. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock worth $973,442 over the last three months. 7.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. lifted its position in Denali Therapeutics by 1,240.9% during the fourth quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company’s stock worth $11,231,000 after buying an additional 509,992 shares during the period. GF Fund Management CO. LTD. purchased a new position in Denali Therapeutics during the fourth quarter worth about $62,000. Woodline Partners LP purchased a new position in Denali Therapeutics during the fourth quarter worth about $2,038,000. Squarepoint Ops LLC lifted its position in Denali Therapeutics by 44.2% during the fourth quarter. Squarepoint Ops LLC now owns 48,619 shares of the company’s stock worth $991,000 after buying an additional 14,896 shares during the period. Finally, Twinbeech Capital LP purchased a new position in Denali Therapeutics during the fourth quarter worth about $5,188,000. 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.