Denali Therapeutics (NASDAQ:DNLI) Now Covered by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo initiated coverage of Denali Therapeutics with an “overweight” rating and a $35 price target, implying about 85% upside from the prior close.
• Analyst sentiment is broadly positive: Denali has a “Moderate Buy” consensus rating and an average price target of $36.07.
• Denali reported quarterly EPS of $0.37, beating the consensus estimate of a $0.27 loss, and revenue of $17.78 million versus expectations of $12.67 million.

Equities research analysts at Wells Fargo & Company began coverage on shares of Denali Therapeutics (NASDAQ:DNLI - Get Free Report) in a report released on Friday, Briefing.com reports. The firm set an "overweight" rating and a $35.00 price target on the stock. Wells Fargo & Company's price target would indicate a potential upside of 85.28% from the company's previous close.

DNLI has been the subject of a number of other research reports. Robert W. Baird set a $34.00 price objective on shares of Denali Therapeutics in a research note on Friday, August 7th. B. Riley Financial lifted their target price on shares of Denali Therapeutics from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Wedbush upped their target price on shares of Denali Therapeutics from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, November 4th. Wall Street Zen raised shares of Denali Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, October 24th. Finally, Deutsche Bank increased their price target on shares of Denali Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.07.

Denali Therapeutics Stock Down 4.3%

DNLI opened at $18.89 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.21. Denali Therapeutics has a 1 year low of $15.34 and a 1 year high of $27.30. The stock's 50 day simple moving average is $19.86 and its 200-day simple moving average is $21.27.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.64. The firm had revenue of $17.78 million during the quarter, compared to the consensus estimate of $12.67 million. During the same period last year, the business earned ($0.74) earnings per share. On average, analysts expect that Denali Therapeutics will post -2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,768 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total value of $64,881.92. Following the sale, the insider directly owned 278,995 shares in the company, valued at $6,539,642.80. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several large investors have recently made changes to their positions in DNLI. BlackRock Inc. bought a new position in Denali Therapeutics during the 2nd quarter valued at about $360,759,000. Dimensional Fund Advisors LP boosted its position in Denali Therapeutics by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,692,175 shares of the company's stock valued at $51,687,000 after buying an additional 317,872 shares in the last quarter. Fisher Asset Management LLC grew its stake in Denali Therapeutics by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,460,545 shares of the company's stock worth $50,859,000 after buying an additional 46,383 shares during the last quarter. ADAR1 Capital Management LLC grew its stake in Denali Therapeutics by 3,490.9% during the first quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company's stock worth $35,932,000 after buying an additional 1,819,339 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Denali Therapeutics during the second quarter worth about $31,660,000. Institutional investors own 92.92% of the company's stock.

Denali Therapeutics Company Profile

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.

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