Denali Therapeutics (NASDAQ:DNLI) Raised to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Denali Therapeutics (NASDAQ:DNLI) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on DNLI. Cantor Fitzgerald raised Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 10th. William Blair raised Denali Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th. Robert W. Baird decreased their target price on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. HC Wainwright decreased their target price on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Wedbush decreased their target price on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $33.71.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock opened at $13.67 on Monday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -5.12 and a beta of 1.33. The firm’s 50-day moving average is $14.20 and its 200 day moving average is $16.03. Denali Therapeutics has a 1 year low of $10.57 and a 1 year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period last year, the firm earned ($0.68) earnings per share. On average, equities 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 495,282 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total value of $7,429,230.00. Following the completion of the sale, the chief executive officer directly owned 253,071 shares of the company’s stock, valued at approximately $3,796,065. This represents a 66.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several large investors have recently added to or reduced their stakes in DNLI. Vanguard Group Inc. increased its stake in shares of Denali Therapeutics by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after purchasing an additional 843,996 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Denali Therapeutics by 15.9% in the first quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company’s stock worth $155,113,000 after purchasing an additional 1,561,647 shares in the last quarter. FMR LLC increased its stake in shares of Denali Therapeutics by 2.4% in the fourth quarter. FMR LLC now owns 8,019,746 shares of the company’s stock worth $163,442,000 after purchasing an additional 188,368 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Denali Therapeutics by 88.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company’s stock worth $91,996,000 after purchasing an additional 3,184,042 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Denali Therapeutics by 42.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company’s stock worth $59,373,000 after purchasing an additional 1,308,619 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

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.