Deciphera Pharmaceuticals Inc (DCPH) Sees Significant Increase in Short Interest

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Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,843,057 shares, a growth of 58.5% from the October 15th total of 1,162,575 shares. Currently, 12.4% of the company’s shares are sold short. Based on an average trading volume of 401,729 shares, the days-to-cover ratio is currently 4.6 days.

DCPH stock opened at $20.00 on Friday. The company has a quick ratio of 18.44, a current ratio of 18.44 and a debt-to-equity ratio of 0.05. Deciphera Pharmaceuticals has a 1 year low of $15.15 and a 1 year high of $45.61. The stock has a market capitalization of $774.69 million, a PE ratio of -6.69 and a beta of 3.79.

Deciphera Pharmaceuticals (NASDAQ:DCPH) last posted its earnings results on Thursday, November 8th. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.65). Equities analysts predict that Deciphera Pharmaceuticals will post -2.61 earnings per share for the current year.

Several equities research analysts have commented on DCPH shares. BidaskClub lowered Deciphera Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Leerink Swann started coverage on Deciphera Pharmaceuticals in a research note on Monday, September 24th. They set an “underperform” rating and a $28.00 price target for the company. Raymond James started coverage on Deciphera Pharmaceuticals in a research note on Wednesday, August 29th. They set an “outperform” rating and a $47.00 price target for the company. Zacks Investment Research lowered Deciphera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Finally, ValuEngine upgraded Deciphera Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Deciphera Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $45.44.

Several hedge funds have recently bought and sold shares of DCPH. Bank of America Corp DE grew its stake in shares of Deciphera Pharmaceuticals by 316.1% in the second quarter. Bank of America Corp DE now owns 2,609 shares of the company’s stock valued at $103,000 after buying an additional 1,982 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Deciphera Pharmaceuticals in the second quarter valued at about $203,000. Rhumbline Advisers acquired a new stake in shares of Deciphera Pharmaceuticals in the second quarter valued at about $301,000. Highland Capital Management LP acquired a new stake in shares of Deciphera Pharmaceuticals in the second quarter valued at about $394,000. Finally, Wells Fargo & Company MN grew its stake in shares of Deciphera Pharmaceuticals by 187.1% in the third quarter. Wells Fargo & Company MN now owns 12,440 shares of the company’s stock valued at $482,000 after buying an additional 8,107 shares in the last quarter. Institutional investors and hedge funds own 53.52% of the company’s stock.

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About Deciphera Pharmaceuticals

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, and other solid tumors.

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