After Piper Jaffray and JMP Securities gave Deciphera Pharmaceuticals Inc (NASDAQ: DCPH) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Charles Duncan reiterated a Buy rating on Deciphera Pharmaceuticals Inc today and set a price target of $53. The company’s shares opened today at $20.75.
Duncan observed:
“We reiterate our OW rating and $53 PT on DCPH. Deciphera’s competitor, Blueprint Medicines (BPMC; Not Covered), provided an update for avapritinib in advanced GIST at CTOS today.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -2.0% and a 39.9% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Deciphera Pharmaceuticals Inc is a Moderate Buy with an average price target of $48.50, which is a 133.7% upside from current levels. In a report released today, Piper Jaffray also maintained a Buy rating on the stock.
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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 264.3K.
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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.
