Cantor Fitzgerald Reiterates "Overweight" Rating for Denali Therapeutics (NASDAQ:DNLI)

Key Points

• Cantor Fitzgerald has reiterated its "overweight" rating for Denali Therapeutics (NASDAQ:DNLI), indicating a positive outlook for the company's stock.
• Denali's stock has an average price target of $33.62, with the majority of analysts rating it as a Buy or Strong Buy.
• The company reported earnings of ($0.72) per share for the last quarter, surpassing analysts' expectations of ($0.74).

Denali Therapeutics (NASDAQ:DNLI - Get Free Report)'s stock had its "overweight" rating restated by investment analysts at Cantor Fitzgerald in a report released on Monday,Benzinga reports.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley decreased their price objective on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, August 18th. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a report on Monday, July 28th. Finally, Bank of America reduced their price target on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a report on Monday, May 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Denali Therapeutics presently has a consensus rating of "Buy" and an average price target of $33.62.

Denali Therapeutics Stock Down 0.4%

Shares of NASDAQ DNLI opened at $15.37 on Monday. The business has a 50-day moving average of $14.55 and a 200-day moving average of $14.55. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -5.49 and a beta of 1.23. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $33.33. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same period in the prior year, the company posted ($0.59) earnings per share. Sell-side analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other news, insider Carole Ho sold 2,937 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the transaction, the insider directly owned 217,391 shares in the company, valued at approximately $2,952,169.78. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander O. Schuth sold 2,937 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value of $39,884.46. Following the sale, the insider owned 242,346 shares in the company, valued at $3,291,058.68. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,962 shares of company stock worth $7,520,799. 12.50% of the stock is owned by company insiders.

Institutional Trading of Denali Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in Denali Therapeutics in the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its position in Denali Therapeutics by 277.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock worth $29,000 after purchasing an additional 1,551 shares during the period. State of Wyoming purchased a new stake in Denali Therapeutics in the second quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Denali Therapeutics in the first quarter worth $41,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Denali Therapeutics in the fourth quarter worth $62,000. Hedge funds and other 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.

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