Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH – Get Rating) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 7,460,000 shares, a decrease of 5.1% from the August 31st total of 7,860,000 shares. Based on an average trading volume of 891,900 shares, the short-interest ratio is presently 8.4 days. Approximately 15.9% of the shares of the company are short sold.
Hedge Funds Weigh In On Deciphera Pharmaceuticals
Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of Deciphera Pharmaceuticals by 739.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,635,510 shares of the company's stock worth $35,519,000 after purchasing an additional 3,202,527 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Deciphera Pharmaceuticals in the fourth quarter valued at about $10,772,000. Federated Hermes Inc. lifted its holdings in shares of Deciphera Pharmaceuticals by 125.5% in the first 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 in the last quarter. BlackRock Inc. lifted its holdings in shares of Deciphera Pharmaceuticals by 27.6% in the first quarter. BlackRock Inc. now owns 4,845,376 shares of the company's stock valued at $44,917,000 after purchasing an additional 1,047,807 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in shares of Deciphera Pharmaceuticals by 12.0% in the second quarter. Deerfield Management Company L.P. Series C now owns 6,250,964 shares of the company's stock valued at $82,200,000 after purchasing an additional 670,508 shares in the last quarter. Institutional investors own 72.29% of the company's stock.
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Analyst Upgrades and Downgrades
DCPH has been the topic of several analyst reports. Piper Sandler increased their target price on Deciphera Pharmaceuticals from $13.00 to $18.00 in a research report on Sunday, September 11th. JMP Securities raised 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, August 5th. Cowen started coverage on Deciphera Pharmaceuticals in a research note on Monday, August 29th. They set an "outperform" rating and a $25.00 target price for the company. SVB Leerink upped their target price on Deciphera Pharmaceuticals from $21.00 to $25.00 and gave the company an "outperform" rating in a report on Monday, September 12th. Finally, Stifel Nicolaus upped their target price on Deciphera Pharmaceuticals from $11.00 to $18.00 and gave the company a "hold" rating in a report on Tuesday, September 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Deciphera Pharmaceuticals currently has a consensus rating of "Hold" and an average price target of $18.70.
Deciphera Pharmaceuticals Stock Up 5.0 %
DCPH opened at $18.50 on Monday. Deciphera Pharmaceuticals has a 12-month low of $6.51 and a 12-month high of $20.88. The firm has a market capitalization of $1.24 billion, a P/E ratio of -4.32 and a beta of 1.00. The stock's 50 day moving average price is $16.44 and its two-hundred day moving average price is $13.02.
Deciphera Pharmaceuticals (NASDAQ:DCPH – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.05. The company had revenue of $32.49 million for the quarter, compared to analyst estimates of $30.11 million. Deciphera Pharmaceuticals had a negative return on equity of 74.37% and a negative net margin of 231.99%. Deciphera Pharmaceuticals's revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.21) EPS. As a group, analysts anticipate that Deciphera Pharmaceuticals will post -2.5 earnings per share for the current year.
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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