Zacks Investment Research Downgrades Deciphera Pharmaceuticals (NASDAQ:DCPH) to Hold

Zacks Investment Research lowered shares of Deciphera Pharmaceuticals (NASDAQ:DCPH) from a buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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According to Zacks, “Deciphera Pharmaceuticals, LLC is a clinical-stage biopharmaceutical company focused on addressing key mechanisms of tumor drug resistance. Its drug candidate includes DCC-2618, DCC-3014 and Rebastinib which are in clinical stage. Deciphera Pharmaceuticals, LLC is based in WALTHAM, United States. “

A number of other analysts also recently issued reports on DCPH. Canaccord Genuity reissued a buy rating and set a $65.00 price objective (up from $50.00) on shares of Deciphera Pharmaceuticals in a research report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on Deciphera Pharmaceuticals in a research report on Monday, September 30th. They issued a buy rating and a $47.00 target price for the company. Leerink Swann raised Deciphera Pharmaceuticals from an underperform rating to a market perform rating in a research report on Tuesday, October 29th. Guggenheim lifted their target price on Deciphera Pharmaceuticals from $44.00 to $66.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Finally, Svb Leerink raised Deciphera Pharmaceuticals from an underperform rating to a market perform rating and lifted their target price for the company from $29.00 to $34.00 in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $49.31.

DCPH stock traded up $0.33 during midday trading on Thursday, reaching $47.47. The stock had a trading volume of 540,000 shares, compared to its average volume of 406,608. The company’s fifty day simple moving average is $36.77 and its 200 day simple moving average is $28.93. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -16.83 and a beta of 1.96. Deciphera Pharmaceuticals has a 52-week low of $19.06 and a 52-week high of $48.00.

Deciphera Pharmaceuticals (NASDAQ:DCPH) last issued its quarterly earnings data on Monday, November 4th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.09). On average, analysts predict that Deciphera Pharmaceuticals will post -4.29 EPS for the current fiscal year.

In other news, Director James Arthur Bristol sold 25,000 shares of Deciphera Pharmaceuticals stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $46.16, for a total value of $1,154,000.00. Also, CFO Thomas Patrick Kelly sold 11,250 shares of Deciphera Pharmaceuticals stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $41.27, for a total value of $464,287.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 634,677 shares of company stock valued at $24,390,512. 7.02% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in DCPH. Bank of Montreal Can purchased a new stake in Deciphera Pharmaceuticals during the second quarter worth approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Deciphera Pharmaceuticals by 162.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,737 shares of the company’s stock worth $59,000 after purchasing an additional 1,074 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Deciphera Pharmaceuticals during the second quarter worth approximately $64,000. JPMorgan Chase & Co. lifted its stake in Deciphera Pharmaceuticals by 89.2% during the second quarter. JPMorgan Chase & Co. now owns 4,057 shares of the company’s stock worth $95,000 after purchasing an additional 1,913 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Deciphera Pharmaceuticals by 214.8% during the second quarter. Morgan Stanley now owns 7,864 shares of the company’s stock worth $177,000 after purchasing an additional 5,366 shares during the last quarter. Institutional investors and hedge funds own 45.71% of the company’s stock.

Deciphera Pharmaceuticals Company Profile

Deciphera Pharmaceuticals, Inc, a clinical-stage 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 of various cancer therapies. The company's lead drug candidate is DCC-2618, which is in Phase III trial for the treatment of gastrointestinal stromal tumors; and that is in Phase I trial for treating advanced systemic mastocytosis, gliomas, melanoma, NSCLC/germ cell/penile, and soft tissue sarcomas.

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