Denali Therapeutics (NASDAQ:DNLI) Raised to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Denali Therapeutics (NASDAQ:DNLI - Free Report) from a neutral rating to an overweight rating in a report released on Thursday morning, MarketBeat reports.

DNLI has been the topic of several other research reports. Bank of America decreased their price target on Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Stifel Nicolaus raised Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 target price on the stock in a research note on Monday, December 16th. Robert W. Baird initiated coverage on Denali Therapeutics in a report on Tuesday, January 7th. They set an "outperform" rating and a $31.00 price objective for the company. HC Wainwright upped their price target on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, 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 research report on Monday, March 3rd. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $37.57.

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Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI traded up $0.03 during trading on Thursday, hitting $13.30. 481,115 shares of the company's stock were exchanged, compared to its average volume of 1,079,164. The business's 50-day simple moving average is $16.32 and its 200 day simple moving average is $21.66. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -4.82 and a beta of 1.58. Denali Therapeutics has a 52-week low of $10.57 and a 52-week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.08. On average, sell-side analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in 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 acquiring an additional 1,516 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Denali Therapeutics during the 4th quarter valued at approximately $62,000. Point72 Hong Kong Ltd acquired a new stake in Denali Therapeutics during the fourth quarter worth $65,000. PNC Financial Services Group Inc. lifted its stake in shares of 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 purchasing an additional 885 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Denali Therapeutics by 253.8% during the 1st quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock worth $108,000 after purchasing an additional 5,705 shares during the period. 92.92% of the stock is 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.