Denali Therapeutics’ (DNLI) “Buy” Rating Reiterated at Cantor Fitzgerald
Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reaffirmed by equities researchers at Cantor Fitzgerald in a report released on Friday. They currently have a $25.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 21.60% from the company’s previous close.
The analysts wrote, “. We reiterate our Overweight rating and 12-month PT of $25/share of DNLI after attending Denali’s R&D Day. We believe the company is approaching neurodegenerative diseases through rigorous therapeutic discovery and development, and we expect increasingly visible pipeline progress will enhance investor conviction over the next 12-18 months. The event provided a broad perspective on pipeline strategy that could address many of the historic challenges for neurodegenerative disease drug development. Our focus is currently on the small molecule programs for DNL201 in Parkinson’s disease (PD) and DNL747 in Alzheimer’s disease (AD), ALS, and MS, which are the most advanced programs.””
Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Denali Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Janney Montgomery Scott initiated coverage on shares of Denali Therapeutics in a report on Monday, November 12th. They set a “buy” rating and a $26.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.00.
Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.13). The business had revenue of $1.20 million for the quarter, compared to the consensus estimate of $3.00 million. Equities research analysts predict that Denali Therapeutics will post -1.37 earnings per share for the current fiscal year.
In other news, insider Ryan J. Watts sold 18,334 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $18.09, for a total value of $331,662.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ryan J. Watts sold 18,333 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $18.43, for a total transaction of $337,877.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,167 shares of company stock worth $1,049,639. Insiders own 21.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of DNLI. Vanguard Group Inc. grew its position in Denali Therapeutics by 52.5% during the third quarter. Vanguard Group Inc. now owns 4,827,710 shares of the company’s stock valued at $104,954,000 after purchasing an additional 1,660,984 shares in the last quarter. Morgan Stanley grew its position in Denali Therapeutics by 58.9% during the third quarter. Morgan Stanley now owns 186,902 shares of the company’s stock valued at $4,063,000 after purchasing an additional 69,266 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Denali Therapeutics by 101.4% during the third quarter. TIAA CREF Investment Management LLC now owns 72,701 shares of the company’s stock valued at $1,581,000 after purchasing an additional 36,599 shares in the last quarter. Teachers Advisors LLC grew its position in Denali Therapeutics by 166.2% during the third quarter. Teachers Advisors LLC now owns 92,671 shares of the company’s stock valued at $2,015,000 after purchasing an additional 57,863 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in Denali Therapeutics during the third quarter valued at approximately $712,000. Institutional investors own 70.52% of the company’s stock.
About Denali Therapeutics
Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.
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