Cantor Fitzgerald Keeps Their Buy Rating on Deciphera Pharmaceuticals Inc (DCPH)

By Jason Carr

Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Deciphera Pharmaceuticals Inc (NASDAQ: DCPH) today and set a price target of $53. The company’s shares closed yesterday at $35.10.

Duncan commented:

“We are Overweight on DCPH with a 12-month price target of $53 based on lead asset DCC-2618 (in 4L GIST). Compelling safety and clinical activity data were presented at ASCO ‘18, which we view positively when compared to SOC sunitinib in earlier 2L patients. We believe the recent data de-risks the P3 program for 4L pts, reads on the broad potential in GIST & other malignancies, and reinforces our conviction in the platform/clinical strategy. In addition, emerging ‘2618 data in 2L/3L pts suggest superiority to SOC in terms of response rate & durability, a clinical profile that could drive ~$2.7B in peak sales.”

According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.0% and a 48.1% 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 Strong Buy with an average price target of $51.60.

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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 165.8K.

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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.