DCPH Stock Doubles on Late-Stage Drug Data

Just last month Deutsche Bank called the stock's eventual pop

Digital Content Manager
Aug 13, 2019 at 9:52 AM
facebook X logo linkedin

The shares of biotech name Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) have more than doubled this morning after the durgmaker announced that its lead treatment, ripretinib, met its main goal during a late-stage study in patients with stomach cancer. The stock has shot up 100% at $39.95, trading right back near its June 2018 record highs, and set for its best day ever.

Just yesterday, DCPH took a massive slide, bottoming out at seven-month lows, and was struggling right below the year-to-date breakeven. point. This plummet comes just days after the stock tried to rally off a second-quarter earnings win earlier this month, only to be met with resistance at its 200-day moving average. Today, however, the equity is set to close atop this trendline, with only one other close north of here notched since last October. 

Analysts have had high hopes for Deciphera even before today's surge, made evident by its consensus 12-month target price of $45.50, which still holds a slight premium to the stock's current perch. What's more, all but one analyst has doled out a "strong buy" rating to the equity, with the holdout calling it a "strong sell." In fact, last month Deutsche Bank called the stock's pop, initiating coverage with a $42 price target and a "buy" rating. 

While short interest has been declining, down 14.3% in the last two reporting periods, the 3.09 million shares sold short still represents a healthy 20.5% of the stock's available float. Considering that it would still take over two weeks to buy back all these bearish bets at DCPH's average pace of trading, short covering tailwinds could still occur.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI