Deciphera Pharmaceuticals (NASDAQ:DCPH) Rating Increased to Equal Weight at Barclays

Deciphera Pharmaceuticals (NASDAQ:DCPH) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a $26.00 price target on the stock, up from their previous price target of $9.00. Barclays‘s target price would suggest a potential upside of 2.85% from the company’s current price.

Several other brokerages have also recently commented on DCPH. Stifel Nicolaus boosted their price target on shares of Deciphera Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. boosted their price objective on Deciphera Pharmaceuticals from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Jefferies Financial Group reaffirmed a “hold” rating and set a $25.60 target price (down from $26.00) on shares of Deciphera Pharmaceuticals in a research report on Monday. Finally, Jonestrading reiterated a “hold” rating and set a $25.60 target price on shares of Deciphera Pharmaceuticals in a report on Monday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Deciphera Pharmaceuticals presently has an average rating of “Hold” and an average target price of $24.17.

Deciphera Pharmaceuticals Trading Up 72.6 %

NASDAQ DCPH opened at $25.28 on Tuesday. Deciphera Pharmaceuticals has a 12 month low of $9.90 and a 12 month high of $25.40. The stock has a market cap of $2.08 billion, a P/E ratio of -11.04 and a beta of 0.39. The stock’s fifty day moving average price is $15.78 and its 200-day moving average price is $14.45.

Deciphera Pharmaceuticals (NASDAQ:DCPH) last announced its earnings results on Tuesday, February 6th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.04. Deciphera Pharmaceuticals had a negative net margin of 119.33% and a negative return on equity of 49.44%. The business had revenue of $48.30 million during the quarter, compared to analyst estimates of $45.93 million. During the same period in the previous year, the business earned ($0.60) EPS. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. As a group, analysts forecast that Deciphera Pharmaceuticals will post -2.16 earnings per share for the current fiscal year.

Institutional Trading of Deciphera Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. increased its holdings in Deciphera Pharmaceuticals by 176.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 1,021,800 shares of the company’s stock worth $16,482,000 after buying an additional 651,800 shares during the period. Armistice Capital LLC raised its position in Deciphera Pharmaceuticals by 12.7% during the fourth quarter. Armistice Capital LLC now owns 5,200,000 shares of the company’s stock valued at $83,876,000 after acquiring an additional 588,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Deciphera Pharmaceuticals by 14.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,307,475 shares of the company’s stock valued at $37,220,000 after acquiring an additional 290,968 shares during the period. Deerfield Management Company L.P. Series C grew its stake in shares of Deciphera Pharmaceuticals by 2.8% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 6,897,606 shares of the company’s stock worth $87,738,000 after purchasing an additional 190,580 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in shares of Deciphera Pharmaceuticals by 157.1% during the 4th quarter. Panagora Asset Management Inc. now owns 235,845 shares of the company’s stock valued at $3,804,000 after purchasing an additional 144,097 shares in the last quarter. Hedge funds and other institutional investors own 70.96% of the company’s stock.

Deciphera Pharmaceuticals Company Profile

Deciphera Pharmaceuticals, Inc, a biopharmaceutical company, develops drugs to enhance the lives of cancer patients by addressing key mechanisms of drug resistance that limit the rate and durability of response to existing cancer therapies in the United States and internationally. Its lead drug candidate is QINLOCK used for the treatment of gastrointestinal stromal tumors (GIST), as well as in INTRIGUE Phase 3 study to treat second-line GIST.