Cantor Fitzgerald Reaffirms “Overweight” Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Monday,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the company. Bank of America cut their target price on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, May 19th. Morgan Stanley cut their target price on Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. Finally, TD Cowen upgraded Denali Therapeutics to a “strong-buy” rating in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $33.50.

Denali Therapeutics Stock Performance

DNLI stock opened at $15.36 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -5.49 and a beta of 1.23. Denali Therapeutics has a 1 year low of $10.57 and a 1 year high of $33.33. The stock’s fifty day moving average is $14.61 and its two-hundred day moving average is $14.52.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.02. During the same period in the prior year, the firm earned ($0.59) earnings per share. On average, research analysts predict that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Activity

In related news, CEO Ryan J. Watts sold 495,282 shares of Denali Therapeutics stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the transaction, the chief executive officer directly owned 253,071 shares of the company’s stock, valued at $3,796,065. The trade was a 66.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carole Ho sold 2,937 shares of Denali Therapeutics stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the transaction, the insider directly owned 217,391 shares in the company, valued at approximately $2,952,169.78. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 501,962 shares of company stock valued at $7,520,799. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Denali Therapeutics during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its holdings in Denali Therapeutics by 277.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company’s stock worth $29,000 after acquiring an additional 1,551 shares during the period. State of Wyoming acquired a new position in Denali Therapeutics during the second quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Denali Therapeutics during the first quarter worth about $41,000. Finally, GF Fund Management CO. LTD. acquired a new position in Denali Therapeutics during the fourth quarter worth about $62,000. 92.92% of the stock is owned by institutional investors and hedge funds.

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.