Zacks Investment Research Upgrades Deciphera Pharmaceuticals (NASDAQ:DCPH) to “Hold”

Deciphera Pharmaceuticals (NASDAQ:DCPH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm currently has a $35.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 4.92% from the stock’s current price.

According to Zacks, “Deciphera got a significant boost with the FDA approval for Qinlock in treating advanced gastrointestinal stromal tumors (GIST) in May 2020. The company successfully launched Qinlock and the drug has witnessed a solid uptake so far. Deciphera also completed enrollment in the phase III INTRIGUE study in second-line GIST patients. A potential label expansion of the drug will drive sales further. It is rapidly advancing the portfolio of innovative pipeline candidates, including vimseltinib, rebastinib and DCC-3116. However, the company has only one approved product in its portfolio, which is a concern. Any regulatory setback for the drug will hurt the stock. Stiff competition in the target market also remains a headwind. Shares of the company have underperformed the industry in the year so far.”

DCPH has been the topic of several other research reports. JMP Securities reaffirmed a “buy” rating and issued a $70.00 price target on shares of Deciphera Pharmaceuticals in a report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Deciphera Pharmaceuticals in a report on Monday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Deciphera Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $65.38.

Deciphera Pharmaceuticals stock opened at $33.36 on Friday. Deciphera Pharmaceuticals has a 12 month low of $26.20 and a 12 month high of $68.40. The business’s 50 day simple moving average is $31.12 and its 200 day simple moving average is $36.37. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -7.41 and a beta of 1.50.

Deciphera Pharmaceuticals (NASDAQ:DCPH) last posted its earnings results on Tuesday, August 3rd. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.06). The company had revenue of $23.57 million for the quarter, compared to analysts’ expectations of $22.25 million. Deciphera Pharmaceuticals had a negative return on equity of 50.07% and a negative net margin of 308.58%. Equities analysts anticipate that Deciphera Pharmaceuticals will post -4.88 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in Deciphera Pharmaceuticals in the first quarter valued at $45,000. Eaton Vance Management purchased a new stake in Deciphera Pharmaceuticals during the first quarter valued at about $79,000. Macquarie Group Ltd. boosted its position in Deciphera Pharmaceuticals by 90.8% during the second quarter. Macquarie Group Ltd. now owns 2,005 shares of the company’s stock valued at $73,000 after buying an additional 954 shares during the period. Royal Bank of Canada boosted its position in Deciphera Pharmaceuticals by 8,556.0% during the first quarter. Royal Bank of Canada now owns 2,164 shares of the company’s stock valued at $97,000 after buying an additional 2,139 shares during the period. Finally, E Fund Management Co. Ltd. purchased a new stake in Deciphera Pharmaceuticals during the first quarter valued at about $144,000. 73.67% of the stock is currently owned by institutional investors and hedge funds.

About Deciphera Pharmaceuticals

Deciphera Pharmaceuticals, Inc engages in discovering, developing, and delivering important new medicines to patients for the treatment of cancer. The firm designs a drug candidate, DCC-2618, to inhibit the full spectrum of mutant or amplified KIT and PDGFRa kinases that drive cancers such as gastrointestinal stromal tumors (GIST), advanced systemic mastocytosis (ASM), gliomas, and other solid tumors.

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Analyst Recommendations for Deciphera Pharmaceuticals (NASDAQ:DCPH)

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