Deciphera (DCPH) Expert Survey is Positive on Qinlock Despite Selloff, Piper Sandler Reiterates Overweight

Piper Sandler analyst Christopher Raymond reiterated an Overweight rating and $75.00 price target on Deciphera (NASDAQ: DCPH) after conducting a survey of high volume GIST treating oncologists that showed awareness, breadth of use and satisfaction with DCPH’s Qinlock are all quite bullish.

The analyst stated "More quantitatively, we find meaningful 2L GIST use already, with continued 2L uptake even before INTRIGUE data or 2L labeling but especially after the data later this year. Indeed, projections are for steep share-increases across all lines of therapy. As such, we are raising our FY21 and FY22 Qinlock estimates to levels meaningfully above consensus. As for Blueprint Medicines (NASDAQ: BPMC), feedback indicates solid performance within that drug’s limited label, but we are leaving our estimates as is for now. Bottom line – this bullish Qinlock feedback appears directly at odds with DCPH shares’ recent malaise (-17% YTD) and we are buyers ahead of what we anticipate will be a meaningful upward re-rating of Qinlock revenue estimates".

For an analyst ratings summary and ratings history on Deciphera click here. For more ratings news on Deciphera click here.

Shares of Deciphera closed at $47.41 yesterday.

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