Denali Therapeutics (NASDAQ:DNLI) Upgraded by Stifel Nicolaus to Buy Rating

Denali Therapeutics (NASDAQ:DNLI) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has a $37.00 price objective on the stock. Stifel Nicolaus’ price objective points to a potential upside of 61.08% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Bank of America increased their price target on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Denali Therapeutics in a report on Thursday, November 7th. Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Finally, Jefferies Financial Group lifted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $22.97 on Monday. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.33. The stock’s fifty day moving average is $26.28 and its two-hundred day moving average is $24.85. The firm has a market capitalization of $3.31 billion, a P/E ratio of -8.32 and a beta of 1.35.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the firm earned ($0.72) EPS. On average, equities analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the sale, the insider now directly owns 178,066 shares in the company, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the transaction, the director now owns 111,056 shares of the company’s stock, valued at $3,331,680. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,578 shares of company stock worth $2,474,440 in the last ninety days. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Denali Therapeutics by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 80,041 shares of the company’s stock worth $2,148,000 after buying an additional 2,901 shares during the last quarter. Barclays PLC raised its position in shares of Denali Therapeutics by 101.4% during the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock worth $7,454,000 after acquiring an additional 128,823 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in Denali Therapeutics during the third quarter worth approximately $1,894,000. Pier Capital LLC boosted its holdings in Denali Therapeutics by 1.6% in the third quarter. Pier Capital LLC now owns 168,082 shares of the company’s stock valued at $4,896,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after purchasing an additional 903,683 shares during the last quarter. 92.92% of the stock is currently 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.