In a report released yesterday, Madhu Kumar from B.Riley FBR reiterated a Hold rating on Deciphera Pharmaceuticals Inc (NASDAQ: DCPH), with a price target of $43. The company’s shares opened today at $35.31.
Kumar commented:
“Pharmaceuticals (DCPH) announced 2Q18 earnings and provided a corporate update. We continue to be optimistic about the potential for lead asset, KIT/PDGFRα inhibitor DCC-2618, to disrupt the treatment of gastrointestinal stromal tumor (GIST), but await additional clinical data to improve materially our DCPH valuation. In particular, additional Phase Ib data to be presented at the Oncology (ESMO) conference on October 19, 2018, could increase our confidence in the firm’s GIST franchise. After 2Q18 model updates, we reiterate our DCPH Neutral rating and $43 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 27.3% and a 50.4% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.
Deciphera Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $52.
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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 $10.63 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.
