DCPH - Deciphera upgraded by SVB Leerink noting share price weakness

Deciphera Pharmaceuticals ([[DCPH]] +3.9%) was raised to outperform from market perform by SVB Leerink citing the disparity between the recent share price weakness and pipeline progress.The price target at $70 per share represents a ~44.9% upside to the previous close, and Deciphera is trading higher today after three consecutive days of losses.The company announced Q4 2020 results yesterday, with topline and EPS beating the expectations.However, the analyst Andrew Berens expects volatility ahead citing concerns raised by the management over Qinlock as regards the ‘future growth potential in the current indication (4th line GIST), and lack of visibility on patient persistence.’Assuming a positive outcome in the Phase 3 INTRIGUE trial, which evaluates Qinlock in Patients with Second-line GIST, the analyst writes: ‘we do not view the current indication as core to the long term investment thesis.’Qinlock that made up ~93.8% of revenue for Deciphera in 2020 is currently undergoing a Phase 3

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Deciphera upgraded by SVB Leerink noting share price weakness