UPDATE: Credit Suisse Starts Deciphera (DCPH) at Outperform

March 30, 2021 4:09 PM EDT
Get Alerts DCPH Hot Sheet
Price: $47.00 -0.49%

Rating Summary:
    16 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 2 | New: 35
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(Updated - March 30, 2021 4:31 PM EDT)

Credit Suisse analyst Brad Canino initiates coverage on Deciphera (NASDAQ: DCPH) with a Outperform rating and a price target of $78.00.

The analyst comments "We are positive on the stock based on our analysis of the probability of success of the Qinlock (ripretinib) second-line gastrointestinal stromal tumor (2L GIST) pivotal trial, which we believe is high. If successful, DCPH will exit 2021 with a ~$600mm US sales opportunity for Qinlock and two pipeline assets potentially started in pivotal trials, which increases the likelihood of the shares moving appreciably higher. We believe a ~50% downside move is likely if the 2L GIST trial fails, but we are constructive on the risk/reward given the secured fourth-line (4L) GIST label and DCPH’s drug pipeline that can offer quick opportunities for a valuation rebound.."

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 $40.40 yesterday.


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