Denali Therapeutics (NASDAQ:DNLI) Stock Rating Upgraded by TD Cowen

Denali Therapeutics (NASDAQ:DNLI) was upgraded by TD Cowen to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Bank of America decreased their price target on shares of Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Cantor Fitzgerald raised Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 10th. William Blair upgraded Denali Therapeutics to a “strong-buy” rating in a research note on Thursday, April 24th. Robert W. Baird dropped their target price on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Finally, HC Wainwright decreased their price target on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics has a consensus rating of “Buy” and a consensus target price of $33.71.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI opened at $13.61 on Monday. The business has a 50-day moving average of $14.20 and a two-hundred day moving average of $16.03. The firm has a market capitalization of $1.98 billion, a PE ratio of -5.10 and a beta of 1.33. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period in the previous year, the business earned ($0.68) EPS. As a group, research analysts anticipate that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 495,282 shares of the business’s stock in a transaction dated 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 owned 253,071 shares of the company’s stock, valued at approximately $3,796,065. The trade was a 66.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Denali Therapeutics during the 4th quarter worth approximately $533,000. American Century Companies Inc. lifted its stake in Denali Therapeutics by 6.5% during the fourth quarter. American Century Companies Inc. now owns 480,529 shares of the company’s stock worth $9,793,000 after purchasing an additional 29,155 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Denali Therapeutics in the fourth quarter worth $532,000. Vanguard Group Inc. increased its stake in Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock valued at $244,993,000 after purchasing an additional 843,996 shares during the last quarter. Finally, Norges Bank bought a new stake in Denali Therapeutics during the fourth quarter valued at $21,717,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

About Denali Therapeutics

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.