Denali Therapeutics (NASDAQ:DNLI) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $31.00 target price on the stock.

DNLI has been the topic of a number of other reports. Jefferies Financial Group boosted 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. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Denali Therapeutics Price Performance

Shares of DNLI opened at $21.31 on Tuesday. The business has a 50-day moving average of $21.98 and a 200-day moving average of $24.76. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -7.72 and a beta of 1.43.

Insider Activity at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 29,266 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the sale, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carole Ho sold 12,255 shares of the company’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 transaction, the insider now directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,940 shares of company stock worth $973,442. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DNLI. FMR LLC grew its position in Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after acquiring an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Denali Therapeutics by 63.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after purchasing an additional 1,451,770 shares during the last quarter. Norges Bank purchased a new stake in Denali Therapeutics in the 4th quarter worth approximately $21,717,000. Wellington Management Group LLP grew its position in shares of Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after buying an additional 903,683 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock valued at $244,993,000 after buying an additional 843,996 shares during the period. 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.