Denali Therapeutics (NASDAQ:DNLI) Upgraded at Baird R W

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

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group boosted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. dropped their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. William Blair assumed coverage on Denali Therapeutics in a report on Friday, January 3rd. They issued an “outperform” rating for the company. Finally, HC Wainwright cut their target price on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.91.

Denali Therapeutics Stock Performance

NASDAQ:DNLI opened at $21.25 on Tuesday. The stock’s fifty day moving average price is $24.23 and its two-hundred day moving average price is $24.86. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -7.70 and a beta of 1.39. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter last year, the company posted ($0.72) earnings per share. On average, equities analysts predict that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. This trade represents a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carole Ho sold 12,255 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 104,518 shares of company stock valued at $2,576,982. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after purchasing an additional 14,324 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after buying an additional 149,939 shares during the last quarter. Franklin Resources Inc. lifted its stake in Denali Therapeutics by 3.8% in the third quarter. Franklin Resources Inc. now owns 80,041 shares of the company’s stock valued at $2,148,000 after acquiring an additional 2,901 shares during the last quarter. Barclays PLC grew its position in shares of Denali Therapeutics by 101.4% in the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock valued at $7,454,000 after acquiring an additional 128,823 shares during the period. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Denali Therapeutics during the 3rd quarter worth about $1,894,000. 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.