William Blair Reiterates “Outperform” Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “outperform” rating reaffirmed by research analysts at William Blair in a research note issued to investors on Friday,RTT News reports.

A number of other research firms also recently commented on DNLI. HC Wainwright increased their target price on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group raised their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, December 16th. The Goldman Sachs Group dropped their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Robert W. Baird started coverage on Denali Therapeutics in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.42.

Denali Therapeutics Stock Down 7.7 %

DNLI stock traded down $1.43 during midday trading on Friday, hitting $17.17. The company’s stock had a trading volume of 622,880 shares, compared to its average volume of 934,075. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $33.33. The firm has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $24.59. The firm has a market capitalization of $2.47 billion, a P/E ratio of -6.22 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, sell-side analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the sale, the director now directly owns 25,757 shares in the company, valued at $536,003.17. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total transaction of $64,402.80. Following the transaction, the director now owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,940 shares of company stock worth $973,442. Insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

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