Deciphera Pharmaceuticals (NASDAQ:DCPH) Sets New 1-Year High on Earnings Beat

Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPHGet Rating) reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $14.51 and last traded at $14.47, with a volume of 4576 shares. The stock had previously closed at $13.57.

The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.65) by $0.05. The firm had revenue of $32.49 million during the quarter, compared to analyst estimates of $30.11 million. Deciphera Pharmaceuticals had a negative return on equity of 79.39% and a negative net margin of 231.99%. Deciphera Pharmaceuticals’s quarterly revenue was up 37.8% on a year-over-year basis. During the same period in the previous year, the company earned ($1.21) earnings per share.

Analysts Set New Price Targets

A number of brokerages have commented on DCPH. JMP Securities upgraded Deciphera Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday. SVB Leerink boosted their target price on Deciphera Pharmaceuticals from $15.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday. Finally, HC Wainwright boosted their target price on Deciphera Pharmaceuticals from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Deciphera Pharmaceuticals has an average rating of “Hold” and a consensus price target of $14.13.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C raised its stake in Deciphera Pharmaceuticals by 584.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 5,580,456 shares of the company’s stock valued at $54,521,000 after purchasing an additional 4,765,456 shares during the period. Goldman Sachs Group Inc. raised its stake in Deciphera Pharmaceuticals by 739.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,635,510 shares of the company’s stock valued at $35,519,000 after purchasing an additional 3,202,527 shares during the period. Bank of America Corp DE raised its stake in Deciphera Pharmaceuticals by 15,986.6% during the 4th quarter. Bank of America Corp DE now owns 3,023,963 shares of the company’s stock valued at $29,543,000 after purchasing an additional 3,005,165 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Deciphera Pharmaceuticals during the 4th quarter valued at $10,772,000. Finally, Federated Hermes Inc. raised its stake in Deciphera Pharmaceuticals by 125.5% during the 1st quarter. Federated Hermes Inc. now owns 1,959,078 shares of the company’s stock valued at $18,161,000 after purchasing an additional 1,090,368 shares during the period. Institutional investors own 87.97% of the company’s stock.

Deciphera Pharmaceuticals Stock Performance

The firm’s 50 day simple moving average is $12.77 and its 200-day simple moving average is $10.49.

About Deciphera Pharmaceuticals

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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.

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