UPDATE: Credit Suisse Starts Deciphera (DCPH) at Outperform
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
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.."
Shares of Deciphera closed at $40.40 yesterday.
You May Also Be Interested In
- L'Oreal SA (OR:FP) (LRLCY) PT Raised to EUR389 at Societe Generale
- Xinyi Solar Holdings Ltd. (968:HK) (XNYIF) PT Lowered to HK$19.10 at JPMorgan
- EasyJet Plc. (EZJ:LN) (ESYJY) PT Lowered to GBP10 at HSBC
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!