Denali Therapeutics (NASDAQ:DNLI) Earns Overweight Rating from Analysts at Morgan Stanley

Research analysts at Morgan Stanley initiated coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report issued on Friday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $33.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 97.72% from the stock’s previous close.

A number of other research analysts also recently issued reports on DNLI. JPMorgan Chase & Co. dropped their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target on the stock. Oppenheimer dropped their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. B. Riley restated a “buy” rating and issued a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday. Finally, HC Wainwright boosted their price target on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $37.27.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $16.69 on Friday. The firm’s 50 day simple moving average is $20.80 and its 200 day simple moving average is $24.30. Denali Therapeutics has a one year low of $14.01 and a one year high of $33.33. The company has a market cap of $2.42 billion, a PE ratio of -6.05 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. Equities research analysts expect that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Carole Ho sold 12,255 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. The trade was a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total transaction of $64,402.80. Following the sale, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after acquiring an additional 843,996 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after acquiring an additional 903,683 shares in the last quarter. FMR LLC grew its stake in shares of Denali Therapeutics by 2.4% in the 4th quarter. FMR LLC now owns 8,019,746 shares of the company’s stock worth $163,442,000 after acquiring an additional 188,368 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Denali Therapeutics by 63.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after acquiring an additional 1,451,770 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Denali Therapeutics by 8.8% in the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company’s stock worth $67,573,000 after acquiring an additional 268,378 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

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.