Denali Therapeutics (NASDAQ:DNLI) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $85.00 price objective on the stock.

Several other brokerages also recently issued reports on DNLI. TheStreet upgraded Denali Therapeutics from a d rating to a c- rating in a research report on Friday, August 11th. Wedbush cut their price target on Denali Therapeutics from $37.00 to $31.00 and set an outperform rating for the company in a report on Wednesday, August 9th. Stifel Nicolaus decreased their price objective on shares of Denali Therapeutics to $30.00 in a report on Tuesday, May 9th. Finally, HC Wainwright restated a buy rating and issued a $105.00 price objective on shares of Denali Therapeutics in a research report on Thursday. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $55.64.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $23.09 on Thursday. The business has a fifty day moving average of $26.92 and a two-hundred day moving average of $27.08. Denali Therapeutics has a 52-week low of $21.74 and a 52-week high of $34.78. The stock has a market cap of $3.17 billion, a PE ratio of -21.18 and a beta of 1.31.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Tuesday, August 8th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $1.99. The firm had revenue of $294.10 million for the quarter, compared to analyst estimates of $39.51 million. Denali Therapeutics had a negative net margin of 37.42% and a negative return on equity of 12.81%. The company’s revenue for the quarter was up 460.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.48) earnings per share. Analysts predict that Denali Therapeutics will post -1.24 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 1,666 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $29.84, for a total value of $49,713.44. Following the transaction, the director now directly owns 134,703 shares in the company, valued at approximately $4,019,537.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alexander O. Schuth sold 10,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $29.60, for a total transaction of $296,000.00. Following the sale, the insider now owns 528,691 shares of the company’s stock, valued at approximately $15,649,253.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $29.84, for a total value of $49,713.44. Following the transaction, the director now owns 134,703 shares in the company, valued at $4,019,537.52. The disclosure for this sale can be found here. Insiders sold a total of 38,083 shares of company stock valued at $972,610 over the last ninety days. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

A number of hedge funds have recently modified their holdings of DNLI. JPMorgan Chase & Co. grew its position in shares of Denali Therapeutics by 17.1% in the 1st quarter. JPMorgan Chase & Co. now owns 97,372 shares of the company’s stock valued at $3,133,000 after purchasing an additional 14,227 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Denali Therapeutics by 55.6% in the first quarter. MetLife Investment Management LLC now owns 50,392 shares of the company’s stock valued at $1,621,000 after buying an additional 18,003 shares during the period. Rhumbline Advisers increased its position in shares of Denali Therapeutics by 0.5% during the first quarter. Rhumbline Advisers now owns 97,145 shares of the company’s stock worth $3,125,000 after acquiring an additional 496 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Denali Therapeutics by 0.9% during the first quarter. BlackRock Inc. now owns 8,185,740 shares of the company’s stock worth $263,336,000 after acquiring an additional 74,918 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Denali Therapeutics by 13.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 878,224 shares of the company’s stock valued at $28,253,000 after acquiring an additional 106,027 shares in the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative and lysosomal diseases in the United States and internationally. It offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidate, including BIIB122/DNL151, a small molecule inhibitor, which is in phase I and phase Ib clinical trials for the treatment of Parkinson's disease; TAK-594/DNL593, which is in Phase I/II clinical trials for the treatment of frontotemporal dementia-granulin; TAK-920/DNL919, which is in Phase I clinical trials for the treatment of Alzheimer's disease.