Robert W. Baird Initiates Coverage on Denali Therapeutics (NASDAQ:DNLI)

Stock analysts at Robert W. Baird started coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $31.00 price target on the stock. Robert W. Baird’s price objective suggests a potential upside of 45.88% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. William Blair assumed coverage on shares of Denali Therapeutics in a research report on Friday, January 3rd. They set an “outperform” rating on the stock. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. 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 report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.91.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI opened at $21.25 on Tuesday. The stock’s 50-day moving average is $24.34 and its 200 day moving average is $24.88. The company has a market cap of $3.06 billion, a PE ratio of -7.70 and a beta of 1.39. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33.

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

Insider Buying and Selling

In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction dated 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 owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the sale, the director now owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,518 shares of company stock worth $2,576,982. 7.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. MONECO Advisors LLC raised its stake in Denali Therapeutics by 4.6% during the 3rd quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock valued at $265,000 after purchasing an additional 400 shares during the period. Assetmark Inc. lifted its stake in 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 in the last quarter. CWM LLC lifted its stake in Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after purchasing an additional 654 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Denali Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Denali Therapeutics during the third quarter valued at about $73,000. Institutional investors 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.