Denali Therapeutics (NASDAQ:DNLI) Coverage Initiated by Analysts at Robert W. Baird

Stock analysts at Robert W. Baird assumed coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $31.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 56.41% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Jefferies Financial Group lifted their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.27.

Denali Therapeutics Stock Down 6.8 %

Shares of DNLI opened at $19.82 on Tuesday. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $33.33. The stock has a market cap of $2.85 billion, a PE ratio of -7.18 and a beta of 1.39. The business’s 50-day moving average price is $24.46 and its 200-day moving average price is $24.89.

Denali Therapeutics (NASDAQ:DNLI) 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 last year, the company earned ($0.72) EPS. Analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the sale, the director now owns 111,056 shares in the company, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the firm’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 transaction of $1,107,600.00. Following the completion of the transaction, the chief executive officer now owns 235,807 shares in the company, valued at $6,529,495.83. This represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,658 shares of company stock valued at $1,667,943 over the last three months. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

A number of large investors have recently made changes to their positions in the business. CWM LLC lifted its stake in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. Quest Partners LLC bought a new position in Denali Therapeutics in the 3rd quarter worth $73,000. Assetmark Inc. lifted its position in shares of 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 period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Denali Therapeutics during the 2nd quarter valued at about $194,000. 92.92% of the stock is currently owned by 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.