Denali Therapeutics’ (DNLI) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report released on Monday, Benzinga reports. They currently have a $35.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Wedbush decreased their target price on Denali Therapeutics from $30.00 to $26.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Bank of America raised their target price on Denali Therapeutics from $25.00 to $29.00 and gave the stock a buy rating in a research report on Wednesday, September 4th. HC Wainwright restated a buy rating and issued a $90.00 price target on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Citigroup upped their target price on Denali Therapeutics from $26.00 to $32.00 and gave the company a buy rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Denali Therapeutics from $28.00 to $29.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $38.33.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI opened at $27.08 on Monday. The stock has a market capitalization of $3.88 billion, a PE ratio of -28.21 and a beta of 1.37. The company’s 50-day moving average price is $23.43 and its two-hundred day moving average price is $20.96. Denali Therapeutics has a one year low of $14.56 and a one year high of $27.11.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. During the same quarter last year, the company posted $1.30 EPS. The firm’s revenue was down 99.7% on a year-over-year basis. On average, analysts anticipate that Denali Therapeutics will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the transaction, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors have recently made changes to their positions in DNLI. Victory Capital Management Inc. increased its stake in Denali Therapeutics by 27.0% in the 4th quarter. Victory Capital Management Inc. now owns 15,348 shares of the company’s stock worth $329,000 after acquiring an additional 3,267 shares during the last quarter. Fisher Asset Management LLC purchased a new position in Denali Therapeutics during the 4th quarter valued at about $59,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Denali Therapeutics by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,006,997 shares of the company’s stock valued at $21,610,000 after acquiring an additional 25,938 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Denali Therapeutics by 17.7% in the 4th quarter. BNP Paribas Financial Markets now owns 191,643 shares of the company’s stock worth $4,113,000 after purchasing an additional 28,817 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Denali Therapeutics by 15.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,119,628 shares of the company’s stock worth $24,030,000 after buying an additional 146,394 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.

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.