Denali Therapeutics (NASDAQ:DNLI) Earns Overweight Rating from Analysts at Morgan Stanley

Research analysts at Morgan Stanley began coverage on shares of Denali Therapeutics (NASDAQ:DNLI - Get Free Report) in a report issued on Friday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $33.00 price target on the stock. Morgan Stanley's target price points to a potential upside of 119.41% from the stock's current price.

A number of other equities research analysts have also weighed in on DNLI. Oppenheimer lowered their price objective on shares of Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. William Blair restated an "outperform" rating on shares of Denali Therapeutics in a research note on Friday, February 28th. HC Wainwright upped their target price on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Denali Therapeutics has an average rating of "Moderate Buy" and an average price target of $37.20.

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Denali Therapeutics Price Performance

Shares of DNLI stock traded up $0.09 during trading hours on Friday, reaching $15.04. The company had a trading volume of 1,753,690 shares, compared to its average volume of 1,010,455. The business has a fifty day simple moving average of $20.70 and a 200-day simple moving average of $24.24. Denali Therapeutics has a 12 month low of $14.01 and a 12 month high of $33.33. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -5.45 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, equities research analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total transaction of $64,402.80. Following the transaction, the director now owns 107,976 shares of the company's stock, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the sale, the director now owns 25,757 shares of the company's stock, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock valued at $973,442 over the last quarter. 7.90% of the stock is currently owned by insiders.

Institutional Trading of Denali Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its stake in Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock valued at $36,000 after acquiring an additional 1,516 shares during the period. Quest Partners LLC bought a new stake in shares of Denali Therapeutics during the third quarter valued at about $73,000. GF Fund Management CO. LTD. acquired a new stake in shares of Denali Therapeutics in the 4th quarter worth approximately $62,000. Point72 Hong Kong Ltd bought a new position in Denali Therapeutics during the 4th quarter valued at $65,000. Finally, PNC Financial Services Group Inc. lifted 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 valued at $77,000 after acquiring an additional 885 shares during the last quarter. Institutional investors and hedge funds 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.