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

Equities research analysts at Wells Fargo & Company started coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a report issued on Friday, Briefing.com reports. The brokerage set an “overweight” rating and a $35.00 price target on the stock. Wells Fargo & Company‘s price target points to a potential upside of 85.28% from the stock’s previous close.

DNLI has been the subject of a number of other reports. UBS Group lifted their price target on Denali Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 7th. Robert W. Baird set a $34.00 price objective on shares of Denali Therapeutics in a report on Friday, August 7th. Wall Street Zen raised shares of Denali Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Wedbush raised their price objective on shares of Denali Therapeutics from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, November 4th. Finally, HC Wainwright started coverage on shares of Denali Therapeutics in a research note on Wednesday, November 4th. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.07.

Denali Therapeutics Trading Down 4.3%

Shares of DNLI opened at $18.89 on Friday. The stock has a fifty day moving average price of $19.86 and a two-hundred day moving average price of $21.27. The company has a current ratio of 6.21, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. Denali Therapeutics has a 52-week low of $15.34 and a 52-week high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.64. The business had revenue of $17.78 million during the quarter, compared to analyst estimates of $12.67 million. During the same period in the prior year, the firm posted ($0.74) EPS. As a group, equities research analysts forecast that Denali Therapeutics will post -2.62 earnings per share for the current year.

Insider Activity at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 2,768 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total transaction of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares in the company, valued at $6,539,642.80. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its holdings in Denali Therapeutics by 65.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,830 shares of the company’s stock worth $38,000 after purchasing an additional 727 shares during the last quarter. Aberdeen Group plc lifted its position in Denali Therapeutics by 13.0% during the 3rd quarter. Aberdeen Group plc now owns 1,520,605 shares of the company’s stock valued at $31,431,000 after purchasing an additional 175,124 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Denali Therapeutics by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,460,545 shares of the company’s stock valued at $50,859,000 after purchasing an additional 46,383 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Denali Therapeutics by 19.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 102,813 shares of the company’s stock valued at $2,125,000 after purchasing an additional 16,781 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its stake in shares of Denali Therapeutics by 27.6% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 16,200 shares of the company’s stock valued at $335,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

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.