Deciphera Pharmaceuticals Inc (DCPH) Receives a Buy from Cantor Fitzgerald

By Jason Carr

Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Deciphera Pharmaceuticals Inc (DCPHResearch Report) today and set a price target of $53. The company’s shares closed yesterday at $22.31, close to its 52-week low of $18.40.

Duncan observed:

“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 has 0 stars on 0-5 star ranking scale with an average return of -4.2% and a 38.3% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Deciphera Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $41.25.

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Based on Deciphera Pharmaceuticals Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $24.44 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.