Denali Therapeutics (NASDAQ:DNLI) Raised to Strong-Buy at William Blair

Denali Therapeutics (NASDAQ:DNLI) was upgraded by investment analysts at William Blair to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Oppenheimer reduced their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group reduced their target price on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target on the stock. Cantor Fitzgerald raised shares of Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced 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. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $37.57.

Denali Therapeutics Price Performance

DNLI opened at $15.68 on Thursday. Denali Therapeutics has a 1 year low of $10.57 and a 1 year high of $33.33. The stock’s 50 day simple moving average is $14.97 and its 200 day simple moving average is $20.87. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -5.68 and a beta of 1.58.

Denali Therapeutics (NASDAQ:DNLI) last issued 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. As a group, sell-side analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current year.

Institutional Trading of Denali Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of DNLI. Sterling Capital Management LLC grew its holdings in shares of Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after buying an additional 1,516 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Denali Therapeutics during the 4th quarter valued at $62,000. Point72 Hong Kong Ltd bought a new stake in shares of Denali Therapeutics in the 4th quarter worth $65,000. PNC Financial Services Group Inc. raised its stake in shares of Denali Therapeutics by 30.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock valued at $129,000 after purchasing an additional 2,731 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

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.