Wedbush Reiterates “Outperform” Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “outperform” rating restated by Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $32.00 target price on the stock. Wedbush’s target price suggests a potential upside of 238.98% from the company’s previous close.

Several other equities analysts also recently issued reports on DAWN. HC Wainwright reduced their price target on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price objective on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Bank of America lowered their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $34.86.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $9.44 on Wednesday. The firm’s 50-day moving average is $12.23 and its 200-day moving average is $13.41. Day One Biopharmaceuticals has a 1 year low of $9.43 and a 1 year high of $18.07. The company has a market cap of $951.99 million, a P/E ratio of -9.17 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The firm had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. As a group, sell-side analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the sale, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total transaction of $399,300.00. Following the completion of the transaction, the insider now directly owns 1,034,015 shares in the company, valued at $13,762,739.65. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,064 shares of company stock worth $651,225 over the last quarter. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of large investors have recently added to or reduced their stakes in DAWN. GF Fund Management CO. LTD. bought a new position in shares of Day One Biopharmaceuticals in the fourth quarter valued at $27,000. R Squared Ltd acquired a new position in shares of Day One Biopharmaceuticals in the 4th quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Day One Biopharmaceuticals by 38.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock worth $51,000 after purchasing an additional 1,002 shares during the period. Quest Partners LLC lifted its holdings in shares of Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after purchasing an additional 7,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Day One Biopharmaceuticals by 911.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock valued at $135,000 after purchasing an additional 9,603 shares during the period. 87.95% of the stock is currently owned by institutional investors.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.