Denali Therapeutics (NASDAQ:DNLI) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report report published on Friday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $35.00 price objective on the stock.

DNLI has been the topic of several other reports. Morgan Stanley upped their target price on Denali Therapeutics from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Thursday, October 15th. UBS Group boosted their price target on shares of Denali Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. B. Riley Financial boosted their price target on shares of Denali Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Finally, Robert W. Baird set a $34.00 price objective on shares of Denali Therapeutics in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.71.

Denali Therapeutics Stock Down 0.8%

Shares of DNLI opened at $18.74 on Friday. The stock’s 50-day moving average price is $19.77 and its two-hundred day moving average price is $21.25. Denali Therapeutics has a 12 month low of $15.34 and a 12 month high of $27.30. The company has a market capitalization of $3.00 billion, a PE ratio of -10.83 and a beta of 1.08. The company has a current ratio of 6.21, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.64. The company had revenue of $17.78 million during the quarter, compared to analyst estimates of $12.67 million. During the same period in the previous year, the company posted ($0.74) EPS. On average, analysts anticipate that Denali Therapeutics will post -2.62 EPS for the current year.

Insider Activity

In related news, insider Alexander O. Schuth sold 2,768 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total transaction of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares of the company’s stock, valued at $6,539,642.80. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its position in shares of Denali Therapeutics by 46.1% during the 3rd quarter. Marshall Wace LLP now owns 803,420 shares of the company’s stock worth $16,607,000 after buying an additional 253,590 shares during the period. Global Retirement Partners LLC increased its stake in shares of Denali Therapeutics by 65.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,830 shares of the company’s stock valued at $38,000 after acquiring an additional 727 shares in the last quarter. Aberdeen Group plc lifted its position in shares of Denali Therapeutics by 13.0% during the 3rd quarter. Aberdeen Group plc now owns 1,520,605 shares of the company’s stock valued at $31,431,000 after acquiring an additional 175,124 shares during the period. Fisher Asset Management LLC lifted its position in shares of Denali Therapeutics by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,460,545 shares of the company’s stock valued at $50,859,000 after acquiring an additional 46,383 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Denali Therapeutics by 19.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 102,813 shares of the company’s stock valued at $2,125,000 after acquiring an additional 16,781 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

About Denali Therapeutics

Denali Therapeutics is a biotechnology company focused on developing medicines for neurodegenerative diseases and other disorders involving the nervous system. Founded in 2015, the company is headquartered in South San Francisco, California. Its research and development programs target conditions including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and lysosomal storage disorders. Denali’s portfolio includes investigational drug candidates that aim to address underlying disease processes, as well as its TransportVehicle platform, designed to help therapeutic molecules cross the blood-brain barrier.