Deciphera Pharmaceuticals (NASDAQ:DCPH) Earns Buy Rating from HC Wainwright

Deciphera Pharmaceuticals (NASDAQ:DCPH)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report issued on Monday, TipRanks reports. They presently have a $70.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 117.32% from the stock’s current price.

Separately, JMP Securities reissued a “buy” rating and issued a $70.00 target price on shares of Deciphera Pharmaceuticals in a report on Monday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $67.75.

DCPH opened at $32.21 on Monday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -7.18 and a beta of 1.50. Deciphera Pharmaceuticals has a 52 week low of $26.20 and a 52 week high of $68.40. The business’s 50 day moving average is $31.26 and its two-hundred day moving average is $36.56.

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

A number of hedge funds have recently made changes to their positions in DCPH. Logos Global Management LP grew its holdings in Deciphera Pharmaceuticals by 1,674.2% during the second quarter. Logos Global Management LP now owns 1,100,000 shares of the company’s stock worth $40,271,000 after acquiring an additional 1,038,000 shares during the period. CIBC Asset Management Inc acquired a new position in Deciphera Pharmaceuticals during the second quarter worth $20,019,000. Alliancebernstein L.P. grew its holdings in Deciphera Pharmaceuticals by 32.4% during the first quarter. Alliancebernstein L.P. now owns 1,992,706 shares of the company’s stock worth $89,353,000 after acquiring an additional 487,445 shares during the period. Armistice Capital LLC acquired a new position in Deciphera Pharmaceuticals during the second quarter worth $17,280,000. Finally, Suvretta Capital Management LLC acquired a new position in Deciphera Pharmaceuticals during the first quarter worth $15,102,000. 73.67% of the stock is currently owned by hedge funds and other institutional investors.

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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