5 Pharmaceutical Stocks to Buy Under $20 According to Jeremy Green’s Redmile Group

2. Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH)

Redmile Group Stake Value: $136,991,000
Percentage of Redmile Group’s 13F Portfolio: 2.38%
Number of Hedge Fund Holders: 29
Price per Share as of Nov. 23, 2021: $8.66

Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH) is a biopharmaceutical company based in Waltham, Massachusetts. Redmile Group holds 4.03 million shares worth over $136.99 million, representing 2.38% of their investment portfolio. The hedge fund has trimmed its stake by 6% in the third quarter of 2021.

In November, the firm posted earnings for the third quarter, reporting earnings per share of $0.18, missing market estimates by $0.45. Furthermore, revenue for the quarter was $2.83 billion, increasing more than 78% from last year but $1.57 billion less than expected.

Following the failure of the Phase 3 INTRIGUE study in the second-line gastrointestinal stromal tumor in November, Barclays analyst Peter Lawson downgraded Deciphera to “Equal Weight” from “Overweight,” with a price target of $11, down from $50.

In the third quarter of 2021, 29 hedge funds in the database of Insider Monkey held stakes worth $493.01 million in Deciphera Pharmaceuticals, Inc., down from 23 in the preceding quarter worth $568.34 million.