Denali Therapeutics (NASDAQ:DNLI) Earns Outperform Rating from William Blair

Denali Therapeutics (NASDAQ:DNLI - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at William Blair in a research note issued on Friday,RTT News reports.

Other equities analysts have also issued research reports about the company. Robert W. Baird initiated coverage on Denali Therapeutics in a research note on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group raised their target price on Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. The Goldman Sachs Group reduced their target price on Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Finally, Baird R W upgraded Denali Therapeutics to a "strong-buy" rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.77.

Denali Therapeutics Price Performance

NASDAQ:DNLI traded up $0.75 during trading hours on Friday, reaching $15.95. The company had a trading volume of 2,814,691 shares, compared to its average volume of 1,000,145. The firm has a market cap of $2.30 billion, a PE ratio of -5.78 and a beta of 1.43. Denali Therapeutics has a 1-year low of $14.08 and a 1-year high of $33.33. The business's 50 day moving average price is $21.17 and its 200-day moving average price is $24.51.

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Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping 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 fiscal year.

Insider Buying and Selling

In related news, CEO Ryan J. Watts sold 29,266 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares of the company's stock, valued at $2,257,778.16. This represents a 2.77 % 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 in the last ninety days. Company insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Denali Therapeutics

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

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.