In a report released today, Charles Duncan from Cantor Fitzgerald initiated coverage with a Buy rating on Deciphera Pharmaceuticals Inc (NASDAQ: DCPH) and a price target of $53. The company’s shares closed yesterday at $35.67.
Duncan noted:
“. We recently initiated on Overweight rating & 12-month PT of $53 based on lead asset DCC-2618 (report here). Beyond GIST PoS, we see maturing data as having potential to further enhance conviction in the mechanistic rationale of the broader platform. In response to investor feedback, we are reviewing our expectations for disclosure of more mature P1 GIST data at ESMO ’18 (Oct). At this meeting, in addition to KOL feedback, we expect updated ORR & DCR data in 2L/3L/ >4L GIST & possibly a look at PFS/TTP that exceeds historical SOC.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.7% and a 49.1% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Corcept Therapeutics Inc.
Currently, the analyst consensus on Deciphera Pharmaceuticals Inc is a Strong Buy with an average price target of $51.33, implying a 43.9% upside from current levels. In a report issued on August 29, Raymond James also initiated coverage with a Buy rating on the stock with a $47 price target.
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The company has a one-year high of $45.61 and a one-year low of $15.15. Currently, Deciphera Pharmaceuticals Inc has an average volume of 236.5K.
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Deciphera Pharmaceuticals, Inc. operates as a biotechnology company which develops and manufactures kinase inhibitor treatments for cancer by cutting off the ability of tumor cells to thrive and spread. 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. It also develops two other clinical-stage drug candidates, DCC-3014 and rebastinib, as immuno-oncology kinase, inhibitors targeting the kinases CSF1R, and TIE2 kinas. The company was founded by Peter A. Petillo and Daniel L. Flynn in November 2003 and is headquartered in Waltham, MA.
