Jonestrading Upgrades Deciphera Pharmaceuticals (NASDAQ:DCPH) to “Buy”

Deciphera Pharmaceuticals (NASDAQ:DCPH) was upgraded by equities researchers at Jonestrading from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Benzinga reports.

A number of other equities analysts have also issued reports on DCPH. Stifel Nicolaus upgraded shares of Deciphera Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.00 to $20.00 in a research report on Wednesday, August 9th. HC Wainwright lifted their price target on Deciphera Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Piper Sandler raised shares of Deciphera Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $23.00 in a research note on Monday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.63.

Deciphera Pharmaceuticals Trading Down 1.1 %

Shares of DCPH opened at $11.86 on Tuesday. The firm has a market capitalization of $934.81 million, a P/E ratio of -5.05 and a beta of 0.71. The firm has a 50-day moving average price of $12.53 and a 200 day moving average price of $13.54. Deciphera Pharmaceuticals has a 12-month low of $9.90 and a 12-month high of $22.76.

Deciphera Pharmaceuticals (NASDAQ:DCPH) last issued its quarterly earnings results on Monday, October 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.03. The business had revenue of $43.31 million for the quarter, compared to analysts’ expectations of $39.66 million. Deciphera Pharmaceuticals had a negative net margin of 127.92% and a negative return on equity of 48.99%. During the same quarter in the prior year, the company earned ($0.55) earnings per share. Equities research analysts predict that Deciphera Pharmaceuticals will post -2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Matthew L. Sherman sold 2,942 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $12.68, for a total transaction of $37,304.56. Following the sale, the executive vice president now directly owns 84,744 shares in the company, valued at $1,074,553.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Deciphera Pharmaceuticals news, CFO Thomas Patrick Kelly sold 2,316 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $12.02, for a total value of $27,838.32. Following the transaction, the chief financial officer now owns 63,068 shares of the company’s stock, valued at $758,077.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew L. Sherman sold 2,942 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $12.68, for a total value of $37,304.56. Following the completion of the transaction, the executive vice president now directly owns 84,744 shares in the company, valued at approximately $1,074,553.92. The disclosure for this sale can be found here. Insiders have sold a total of 30,598 shares of company stock valued at $369,730 in the last three months. Company insiders own 4.43% of the company’s stock.

Hedge Funds Weigh In On Deciphera Pharmaceuticals

Large investors have recently made changes to their positions in the company. AlphaCentric Advisors LLC bought a new stake in Deciphera Pharmaceuticals in the first quarter valued at about $1,120,000. California State Teachers Retirement System increased its holdings in shares of Deciphera Pharmaceuticals by 22.4% in the first quarter. California State Teachers Retirement System now owns 65,074 shares of the company’s stock worth $1,005,000 after acquiring an additional 11,891 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of Deciphera Pharmaceuticals in the first quarter worth about $673,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Deciphera Pharmaceuticals in the first quarter worth about $245,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Deciphera Pharmaceuticals by 25.5% during the first quarter. Ameritas Investment Partners Inc. now owns 4,149 shares of the company’s stock worth $64,000 after buying an additional 844 shares during the period. 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.