Deciphera Pharmaceuticals (NASDAQ:DCPH) Reaches New 1-Year High Following Strong Earnings

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

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. HC Wainwright upped their price objective on shares of Deciphera Pharmaceuticals from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday. JMP Securities upgraded shares of Deciphera Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Friday. Finally, SVB Leerink upped their price target on shares of Deciphera Pharmaceuticals from $15.00 to $21.00 and gave the company an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.13.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its position in shares of Deciphera Pharmaceuticals by 13,182.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,852 shares of the company’s stock valued at $38,000 after buying an additional 3,823 shares during the last quarter. US Bancorp DE raised its position in shares of Deciphera Pharmaceuticals by 100.6% during the second quarter. US Bancorp DE now owns 4,052 shares of the company’s stock valued at $53,000 after buying an additional 2,032 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Deciphera Pharmaceuticals during the first quarter valued at about $57,000. Amalgamated Bank acquired a new position in shares of Deciphera Pharmaceuticals during the first quarter valued at about $57,000. Finally, Denali Advisors LLC raised its position in shares of Deciphera Pharmaceuticals by 33.9% during the first quarter. Denali Advisors LLC now owns 7,900 shares of the company’s stock valued at $73,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 87.97% of the company’s stock.

Deciphera Pharmaceuticals Trading Down 1.8 %

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

Deciphera Pharmaceuticals Company Profile

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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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