Robert W. Baird Initiates Coverage on Denali Therapeutics (NASDAQ:DNLI)

Equities research analysts at Robert W. Baird began coverage on shares of Denali Therapeutics (NASDAQ:DNLI - Get Free Report) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $31.00 price target on the stock. Robert W. Baird's target price would suggest a potential upside of 46.36% from the stock's previous close.

Several other research analysts have also recently commented on DNLI. Stifel Nicolaus upgraded Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price target on the stock in a research note on Monday, December 16th. Cantor Fitzgerald lowered Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. William Blair started coverage on Denali Therapeutics in a report on Friday. They issued an "outperform" rating for the company. Raymond James reissued a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $38.91.

Denali Therapeutics Stock Up 6.9 %

Shares of NASDAQ:DNLI traded up $1.36 during midday trading on Tuesday, reaching $21.18. The company's stock had a trading volume of 1,634,072 shares, compared to its average volume of 1,149,018. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -7.67 and a beta of 1.39. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33. The business has a 50 day moving average price of $24.34 and a 200 day moving average price of $24.88.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted 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 quarter in the previous year, the firm earned ($0.72) earnings per share. Sell-side analysts anticipate that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other news, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction that occurred 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 transaction, the director now owns 107,976 shares in the company, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander O. Schuth sold 15,558 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the transaction, the insider now owns 178,066 shares of the company's stock, valued at $5,325,954.06. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,658 shares of company stock worth $1,667,943. Company insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. CWM LLC raised its position in Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company's stock worth $63,000 after purchasing an additional 654 shares during the last quarter. Quest Partners LLC bought a new position in Denali Therapeutics in the 3rd quarter worth approximately $73,000. Assetmark Inc. raised its position in Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company's stock worth $111,000 after purchasing an additional 580 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company's stock worth $152,000 after purchasing an additional 920 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Denali Therapeutics in the 2nd quarter worth approximately $194,000. 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.