HC Wainwright Reaffirms Buy Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $36.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 398.61% from the company’s current price.

A number of other research firms have also weighed in on DAWN. JPMorgan Chase & Co. lowered their price target on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered their target price on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Finally, Bank of America dropped their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.29.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN opened at $7.22 on Thursday. The stock’s 50 day simple moving average is $10.13 and its 200-day simple moving average is $12.40. The company has a market cap of $731.78 million, a PE ratio of -7.01 and a beta of -1.38. Day One Biopharmaceuticals has a 1-year low of $7.06 and a 1-year high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data 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 business had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. On average, equities research analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In related news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares in the company, valued at approximately $473,639.92. This trade represents a 10.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,531,059.40. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,064 shares of company stock worth $251,925. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Day One Biopharmaceuticals during the 4th quarter worth approximately $866,000. Charles Schwab Investment Management Inc. raised its position in Day One Biopharmaceuticals by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 507,448 shares of the company’s stock valued at $7,069,000 after purchasing an additional 64,700 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Day One Biopharmaceuticals by 90.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 121,167 shares of the company’s stock valued at $1,535,000 after buying an additional 57,601 shares during the period. Geode Capital Management LLC grew its position in shares of Day One Biopharmaceuticals by 10.5% during the third quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock worth $19,961,000 after buying an additional 136,458 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Day One Biopharmaceuticals by 18.4% during the third quarter. Janus Henderson Group PLC now owns 2,177,197 shares of the company’s stock worth $30,307,000 after buying an additional 337,928 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

About Day One Biopharmaceuticals

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.