Denali Therapeutics (NASDAQ:DNLI) Coverage Initiated at Morgan Stanley

Morgan Stanley assumed coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a report released on Friday. The brokerage set an “overweight” rating and a $33.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 99.18% from the stock’s previous close.

A number of other brokerages have also recently commented on DNLI. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price for the company. B. Riley restated a “buy” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Monday, December 16th. The Goldman Sachs Group decreased their target price on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Oppenheimer cut their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $37.27.

Denali Therapeutics Trading Up 1.8 %

DNLI traded up $0.30 on Friday, reaching $16.57. The stock had a trading volume of 35,921 shares, compared to its average volume of 999,396. The company has a market cap of $2.38 billion, a P/E ratio of -6.03 and a beta of 1.43. Denali Therapeutics has a 12-month low of $14.01 and a 12-month high of $33.33. The business’s 50-day moving average price is $20.88 and its two-hundred day moving average price is $24.35.

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

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the transaction, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carole Ho sold 12,255 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $247,796.10. Following the sale, the insider now owns 178,580 shares of the company’s stock, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock valued at $973,442 over the last quarter. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC raised its stake in Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,516 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Denali Therapeutics in the fourth quarter valued at approximately $62,000. Point72 Hong Kong Ltd purchased a new position in shares of Denali Therapeutics during the fourth quarter valued at approximately $65,000. Quest Partners LLC purchased a new position in shares of Denali Therapeutics during the 3rd quarter worth $73,000. Finally, PNC Financial Services Group Inc. lifted its position in Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after buying an additional 885 shares during the period. 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.