Denali Therapeutics (NASDAQ:DNLI) Raised to Strong-Buy at Baird R W

Baird R W upgraded shares of Denali Therapeutics (NASDAQ:DNLI - Free Report) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald cut Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. Robert W. Baird started coverage on shares of Denali Therapeutics in a research report on Tuesday. They set an "outperform" rating and a $31.00 price objective for the company. Stifel Nicolaus upgraded shares of Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price objective on the stock in a research note on Monday, December 16th. Jefferies Financial Group boosted their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, William Blair initiated coverage on shares of Denali Therapeutics in a research note on Friday, January 3rd. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.91.

Denali Therapeutics Trading Up 0.3 %

DNLI stock traded up $0.07 during mid-day trading on Tuesday, hitting $21.25. 1,245,656 shares of the company were exchanged, compared to its average volume of 1,173,671. Denali Therapeutics has a 1-year low of $14.56 and a 1-year high of $33.33. The stock has a market capitalization of $3.06 billion, a PE ratio of -7.70 and a beta of 1.39. The business has a 50 day simple moving average of $24.34 and a 200-day simple moving average of $24.88.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same period in the prior year, the business earned ($0.72) earnings per share. Equities research 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 Vicki L. Sato sold 1,020 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the transaction, the director now owns 111,056 shares of the company's stock, valued at $3,331,680. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan J. Watts sold 40,000 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares in the company, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,658 shares of company stock worth $1,667,943 over the last ninety days. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Denali Therapeutics by 163.7% in the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company's stock worth $1,162,000 after purchasing an additional 24,767 shares during the last quarter. FMR LLC raised its position in Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company's stock valued at $228,128,000 after buying an additional 7,596,508 shares during the last quarter. Algert Global LLC raised its position in Denali Therapeutics by 82.4% in the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company's stock valued at $1,417,000 after buying an additional 21,975 shares during the last quarter. Integral Health Asset Management LLC bought a new position in Denali Therapeutics during the 2nd quarter valued at $7,546,000. Finally, Principal Financial Group Inc. boosted its holdings in Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock worth $36,076,000 after acquiring an additional 149,939 shares during the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

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.