In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Deciphera Pharmaceuticals Inc (DCPH), with a price target of $53. The company’s shares closed on Friday at $20.41.
Duncan noted:
“We reiterate our Overweight rating and 12-month price target of $53 on Deciphera. We recently hosted Deciphera for investor meetings and also hosted a KOL call with a physician who has deep expertise in gastrointestinal stromal tumors (GIST). As a result of this recent due diligence, we came away with reinforced/enhanced conviction about DCC-2618 approval in >4L/2L for this disease. The KOL has helped design and conduct the P2 and P3 studies that led to FDA approval of SOC imatinib and sunitinib for GIST and is currently part of studies evaluating ‘2618 and avapritinib; our discussion focused on ‘2618 and clinical data presented at ESMO’18.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 0.9% and a 45.0% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Deciphera Pharmaceuticals Inc with a $46.40 average price target.
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Based on Deciphera Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $21.69 million. In comparison, last year the company had a GAAP net loss of $12.04 million.
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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.
