H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Deciphera Pharmaceuticals (DCPH – Research Report) today and set a price target of $30.00.
Andrew Fein has given his Buy rating to Deciphera Pharmaceuticals due to a combination of factors. Firstly, the company announced positive results from the MOTION (vimseltinib in TGCT) pivotal Phase 3 study which outperformed key competitors Turalio and imatinib. Moreover, the primary endpoint reported a 40% ORR compared to 0% ORR for placebo, answering key investor questions regarding its comparison to Turalio’s label of 38% ORR or imatinib’s 20-30% ORR. Secondary endpoints such as range of motion also trended positively, painting a clear picture of patient benefit compared to SOC.
In addition to the top-line results, updates from the Phase 1/2 study of vimseltinib in TGCT show potential increase in responses over time. Notably, the median treatment duration of vimseltinib compared favorably to imatinib’s and Turalio’s. Vimseltinib’s safety profile has always been its key differentiator. It is now clear that its safety advantage could potentially steer sales away from Turalio. The potential superiority of vimseltinib is mainly derived from its high selectivity, potency against CSF1R, and encouraging anti-tumor activity. Lastly, there were only Grade 4 adverse events observed in two patients and dose interruption in 44 patients which were well within expectations and does not impact Fein’s uptake assumptions.
Fein covers the Healthcare sector, focusing on stocks such as Neurocrine, Insmed, and Amylyx Pharmaceuticals Inc. According to TipRanks, Fein has an average return of -9.7% and a 31.00% success rate on recommended stocks.
In another report released yesterday, Piper Sandler also upgraded the stock to a Buy with a $23.00 price target.
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Deciphera Pharmaceuticals (DCPH) Company Description:
Deciphera Pharmaceuticals, Inc. operates as a biotechnology company which develops and manufactures kinase inhibitor treatments for cancer by cutting off the ability of tumor cells to thrive and spread. The company designs a drug candidate, DCC-2618, to inhibit the full spectrum of mutant or amplified KIT and PDGFRa kinases that drive cancers such as gastrointestinal stromal tumors (GIST), advanced systemic mastocytosis (ASM), gliomas, and other solid tumors. It also develops two other clinical-stage drug candidates, DCC-3014 and rebastinib, as immuno-oncology kinase, inhibitors targeting the kinases CSF1R, and TIE2 kinas. The company was founded by Peter A. Petillo and Daniel L. Flynn in November 2003 and is headquartered in Waltham, MA.
