Guggenheim analyst Michael Schmidt upgraded Deciphera to Buy from Neutral with a $22 price target following the company’s business update and newly announced plans to initiate the Phase III INSIGHT study evaluating Qinlock in second line gastrointestinal stromal tumors. The analyst now has higher conviction on Qinlock’s growth opportunities. The study in second line GIST represents a potential $175M-$200M U.S. label expansion opportunity for Qinlock, Schmidt tells investors in a research note.
Published first on TheFly
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