Denali Therapeutics (NASDAQ:DNLI) Given "Overweight" Rating at Cantor Fitzgerald

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).

Cantor Fitzgerald reissued their overweight rating on shares of Denali Therapeutics (NASDAQ:DNLI - Free Report) in a report published on Monday morning,Benzinga reports.

DNLI has been the subject of several other reports. TD Cowen raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Bank of America decreased their price objective on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Morgan Stanley decreased their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $33.50.

Denali Therapeutics Stock Down 4.3%

Shares of DNLI stock traded down $0.63 during mid-day trading on Monday, hitting $14.19. 1,598,993 shares of the stock traded hands, compared to its average volume of 1,903,711. The stock has a market cap of $2.07 billion, a P/E ratio of -5.07 and a beta of 1.23. The stock's fifty day moving average is $14.59 and its two-hundred day moving average is $14.45. Denali Therapeutics has a 52-week low of $10.57 and a 52-week high of $33.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.27 and a quick ratio of 10.27.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.02. During the same quarter in the previous year, the business earned ($0.59) EPS. Equities analysts predict that Denali Therapeutics will post -2.71 EPS for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Carole Ho sold 2,937 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 of the company's stock, valued at approximately $2,952,169.78. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan J. Watts sold 495,282 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the sale, the chief executive officer directly owned 253,071 shares in the company, valued at $3,796,065. The trade was a 66.18% 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 valued at $7,520,799. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Denali Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Denali Therapeutics by 15.9% during the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock worth $155,113,000 after purchasing an additional 1,561,647 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Denali Therapeutics by 88.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company's stock worth $91,996,000 after purchasing an additional 3,184,042 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Denali Therapeutics by 42.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock worth $59,373,000 after purchasing an additional 1,308,619 shares during the period. Norges Bank acquired a new stake in shares of Denali Therapeutics during the 2nd quarter worth approximately $55,224,000. Finally, Geode Capital Management LLC grew its stake in shares of Denali Therapeutics by 4.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,172,305 shares of the company's stock worth $44,386,000 after purchasing an additional 135,129 shares during the period. Institutional investors and hedge funds own 92.92% of the company's stock.

Denali Therapeutics Company Profile

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.