Deciphera Pharmaceuticals (NASDAQ:DCPH) Sets New 12-Month High at $50.83
Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $50.83 and last traded at $50.83, with a volume of 21240 shares changing hands. The stock had previously closed at $47.60.
Several research firms have commented on DCPH. Cantor Fitzgerald lifted their target price on shares of Deciphera Pharmaceuticals from $43.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JMP Securities increased their price target on Deciphera Pharmaceuticals from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 5th. Piper Jaffray Companies set a $55.00 price objective on Deciphera Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group assumed coverage on Deciphera Pharmaceuticals in a research report on Monday, September 30th. They issued a “buy” rating and a $47.00 price objective for the company. Finally, Leerink Swann upgraded Deciphera Pharmaceuticals from an “underperform” rating to a “market perform” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $49.31.
The company has a market cap of $2.41 billion, a price-to-earnings ratio of -18.09 and a beta of 1.94. The stock’s fifty day simple moving average is $43.16 and its two-hundred day simple moving average is $31.74.
In related news, CFO Thomas Patrick Kelly sold 11,250 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $34.97, for a total transaction of $393,412.50. Also, insider Daniel C. Martin sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.56, for a total transaction of $106,680.00. Insiders sold 248,247 shares of company stock worth $11,409,071 in the last quarter. 7.02% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DCPH. Metropolitan Life Insurance Co NY purchased a new position in shares of Deciphera Pharmaceuticals in the 3rd quarter valued at $194,000. Man Group plc purchased a new stake in Deciphera Pharmaceuticals during the 3rd quarter worth $1,079,000. Redmile Group LLC increased its holdings in Deciphera Pharmaceuticals by 115.0% in the 3rd quarter. Redmile Group LLC now owns 4,780,898 shares of the company’s stock valued at $162,264,000 after purchasing an additional 2,557,522 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Deciphera Pharmaceuticals in the third quarter valued at about $973,000. Finally, Barclays PLC raised its position in Deciphera Pharmaceuticals by 250.2% in the third quarter. Barclays PLC now owns 33,548 shares of the company’s stock valued at $1,138,000 after purchasing an additional 23,967 shares during the period. Institutional investors own 69.45% of the company’s stock.
About Deciphera Pharmaceuticals (NASDAQ:DCPH)
Deciphera Pharmaceuticals, Inc, a clinical-stage 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 of various cancer therapies. The company's lead drug candidate is DCC-2618, which is in Phase III trial for the treatment of gastrointestinal stromal tumors; and that is in Phase I trial for treating advanced systemic mastocytosis, gliomas, melanoma, NSCLC/germ cell/penile, and soft tissue sarcomas.
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