Analysts slash PTs on Deciphera citing dour near-term outlook

Deciphera Pharmaceuticals

01/12/2021 12:14

** At least three brokerages cut PTs on Deciphera
Pharmaceuticals Inc  DCPH.O  after drugmaker on Tuesday
announced plans to reduce its workforce and discontinue
development of its ovarian cancer candidate  urn:newsml:reuters.com:*:nL4N2SL3YO
    ** DCPH shares ended 12.1% higher on Tuesday
    ** Piper Sandler says co made the "right move" and is
optimistic about the ability of DCPH's precision onclology
platform to identify new targets that could create value in
upcoming years
    ** But brokerage adds this could take some time to play out,
lowering PT to $11 from $14 
    ** SVB Leerink, which rates the stock "outperform", expects
heightened risk to co after the failure of a late-stage trial of
co's cancer drug QINLOCK in early November; notes absence of
near-term catalysts for shares and lowers PT to $24 from $35
    ** H.C. Wainwright cuts PT to $15 from $25
    ** DCPH has fallen 84.9% this year, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))