Denali Therapeutics (NASDAQ:DNLI) Upgraded to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Denali Therapeutics (NASDAQ:DNLI) from a neutral rating to an overweight rating in a research report report published on Thursday morning, Marketbeat.com reports.

DNLI has been the subject of several other reports. B. Riley reaffirmed a “buy” rating and set a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. HC Wainwright lifted their price target on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research report on Friday, February 28th. 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 research report on Monday, December 16th. Finally, Baird R W raised Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $37.57.

Denali Therapeutics Stock Up 1.6 %

Shares of DNLI stock opened at $12.70 on Thursday. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $33.33. The firm has a fifty day moving average of $16.53 and a 200-day moving average of $21.83. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -4.60 and a beta of 1.58.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. On average, equities analysts expect that Denali Therapeutics will post -2.71 EPS for the current year.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in shares of Denali Therapeutics by 230.2% during the third quarter. BNP Paribas Financial Markets now owns 27,625 shares of the company’s stock worth $805,000 after purchasing an additional 19,259 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Denali Therapeutics during the third quarter worth $1,894,000. Barclays PLC boosted its position in shares of Denali Therapeutics by 101.4% in the third 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. Franklin Resources Inc. grew its stake in shares of 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 in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.