William Blair Begins Coverage on Denali Therapeutics (NASDAQ:DNLI)

William Blair initiated coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research note published on Friday morning, Marketbeat Ratings reports. The firm issued an outperform rating on the stock.

A number of other analysts have also recently commented on DNLI. Stifel Nicolaus upgraded shares of 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. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.40.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $21.26 on Friday. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33. The company’s 50-day moving average is $24.62 and its 200 day moving average is $24.88. The stock has a market capitalization of $3.06 billion, a P/E ratio of -7.70 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last announced its 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 period in the previous year, the company earned ($0.72) earnings per share. Research analysts anticipate that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the sale, the director now owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the transaction, the insider now directly owns 178,066 shares in the company, valued at $5,325,954.06. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,658 shares of company stock valued at $1,667,943. 7.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Denali Therapeutics

A number of large investors have recently made changes to their positions in the company. MONECO Advisors LLC grew its position in Denali Therapeutics by 4.6% during the third quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock valued at $265,000 after buying an additional 400 shares during the period. Assetmark Inc. grew its position in shares of Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after acquiring an additional 580 shares during the period. CWM LLC increased its stake in shares of 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. raised its holdings in 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, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Denali Therapeutics by 5.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock valued at $613,000 after purchasing an additional 1,372 shares in the last quarter. 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.