Denali Therapeutics (NASDAQ:DNLI) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report report published on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $33.00 price objective on the stock.

Several other research firms have also weighed in on DNLI. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. B. Riley reissued a “buy” rating and set a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. The Goldman Sachs Group dropped their price target 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, Robert W. Baird assumed coverage on Denali Therapeutics in a research report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 price target on the stock. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.27.

Denali Therapeutics Stock Up 2.6 %

Shares of NASDAQ DNLI opened at $16.69 on Friday. Denali Therapeutics has a 12 month low of $14.01 and a 12 month high of $33.33. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -6.05 and a beta of 1.46. The business has a fifty day simple moving average of $20.80 and a 200-day simple moving average of $24.30.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.08. As a group, sell-side analysts expect that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 29,266 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at approximately $5,271,778.62. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carole Ho sold 12,255 shares of the firm’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 value of $247,796.10. Following the completion of the sale, the insider now directly owns 178,580 shares in the company, valued at $3,610,887.60. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,940 shares of company stock valued at $973,442. Corporate insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Denali Therapeutics by 7.6% in the 4th 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 last quarter. Wellington Management Group LLP grew its holdings in Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after buying an additional 903,683 shares during the last quarter. FMR LLC grew its holdings in Denali Therapeutics by 2.4% in the 4th quarter. FMR LLC now owns 8,019,746 shares of the company’s stock valued at $163,442,000 after buying an additional 188,368 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Denali Therapeutics by 63.2% in 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 buying an additional 1,451,770 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Denali Therapeutics by 8.8% during the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company’s stock worth $67,573,000 after purchasing an additional 268,378 shares in the last quarter. Institutional investors and hedge funds 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.