Denali Therapeutics (NASDAQ:DNLI) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report released on Friday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $33.00 price objective on the stock.

DNLI has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $31.00 target price for the company. B. Riley reaffirmed a “buy” rating and issued a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group lowered their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Baird R W raised Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.27.

Denali Therapeutics Price Performance

DNLI opened at $16.69 on Friday. The firm has a market capitalization of $2.40 billion, a P/E ratio of -6.05 and a beta of 1.43. The company has a fifty day moving average price of $20.88 and a 200-day moving average price of $24.35. Denali Therapeutics has a one year low of $14.01 and a one year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. On average, analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the sale, the director now owns 25,757 shares in the company, valued at $536,003.17. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan J. Watts sold 29,266 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the sale, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,940 shares of company stock valued at $973,442. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DNLI. Sterling Capital Management LLC grew its stake in shares of Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,516 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Denali Therapeutics during the 4th quarter valued at $62,000. Point72 Hong Kong Ltd bought a new stake in shares of Denali Therapeutics during the 4th quarter valued at $65,000. Quest Partners LLC purchased a new stake in Denali Therapeutics in the third quarter worth about $73,000. Finally, PNC Financial Services Group Inc. increased its holdings in Denali Therapeutics by 30.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after acquiring an additional 885 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

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.