Barclays Upgrades Deciphera Pharmaceuticals (NASDAQ:DCPH) to “Equal Weight”

Deciphera Pharmaceuticals (NASDAQ:DCPH) was upgraded by analysts at Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $26.00 price target on the stock, up from their prior price target of $9.00. Barclays‘s target price points to a potential upside of 2.52% from the company’s current price.

Several other equities analysts have also recently weighed in on DCPH. Stifel Nicolaus lifted their price objective on Deciphera Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Jonestrading reiterated a “hold” rating and set a $25.60 price objective on shares of Deciphera Pharmaceuticals in a report on Monday. Jefferies Financial Group reiterated a “hold” rating and set a $25.60 price objective (down previously from $26.00) on shares of Deciphera Pharmaceuticals in a report on Monday. Finally, JPMorgan Chase & Co. lifted 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. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Deciphera Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $24.17.

Deciphera Pharmaceuticals Trading Up 0.4 %

Shares of DCPH opened at $25.36 on Tuesday. Deciphera Pharmaceuticals has a 1 year low of $9.90 and a 1 year high of $25.40. The stock has a market cap of $2.09 billion, a P/E ratio of -11.07 and a beta of 0.39. The stock’s 50-day moving average price is $16.18 and its two-hundred day moving average price is $14.63.

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

Institutional Investors Weigh In On Deciphera Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C raised its position in Deciphera Pharmaceuticals by 2.8% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 6,897,606 shares of the company’s stock valued at $87,738,000 after buying an additional 190,580 shares during the last quarter. Deutsche Bank AG increased its position in shares of Deciphera Pharmaceuticals by 36.7% during the 3rd quarter. Deutsche Bank AG now owns 254,671 shares of the company’s stock worth $3,239,000 after purchasing an additional 68,435 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Deciphera Pharmaceuticals during the 3rd quarter worth approximately $1,167,000. Dark Forest Capital Management LP increased its position in shares of Deciphera Pharmaceuticals by 18.9% during the 3rd quarter. Dark Forest Capital Management LP now owns 60,216 shares of the company’s stock worth $766,000 after purchasing an additional 9,553 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in shares of Deciphera Pharmaceuticals during the 4th quarter worth approximately $193,000. Institutional investors and hedge funds 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.