Day One Biopharmaceuticals (NASDAQ:DAWN) Earns “Buy” Rating from Needham & Company LLC

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $33.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 125.26% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. JPMorgan Chase & Co. dropped their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and increased their target price for the stock from $11.00 to $24.00 in a report on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.71.

Day One Biopharmaceuticals Stock Down 0.5 %

Day One Biopharmaceuticals stock opened at $14.65 on Thursday. The company has a market capitalization of $1.29 billion, a PE ratio of -14.22 and a beta of -1.51. The firm has a fifty day simple moving average of $14.19 and a two-hundred day simple moving average of $14.39. Day One Biopharmaceuticals has a twelve month low of $10.90 and a twelve month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.58. The business had revenue of $93.76 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period in the prior year, the firm earned ($0.54) earnings per share. As a group, equities analysts expect that Day One Biopharmaceuticals will post -1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 2,633 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $36,862.00. Following the completion of the transaction, the chief financial officer now owns 232,485 shares of the company’s stock, valued at approximately $3,254,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Charles N. York II sold 2,633 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $36,862.00. Following the completion of the sale, the chief financial officer now owns 232,485 shares of the company’s stock, valued at $3,254,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total transaction of $426,600.00. Following the sale, the insider now directly owns 1,097,535 shares of the company’s stock, valued at $15,606,947.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,748 shares of company stock valued at $689,072. Corporate insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAWN. Deerfield Management Company L.P. Series C boosted its holdings in Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after purchasing an additional 1,157,825 shares during the last quarter. Estuary Capital Management LP boosted its holdings in Day One Biopharmaceuticals by 82.5% in the first quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock worth $26,616,000 after purchasing an additional 728,240 shares during the last quarter. Ally Bridge Group NY LLC purchased a new stake in Day One Biopharmaceuticals in the second quarter worth approximately $7,387,000. Point72 Asset Management L.P. purchased a new stake in Day One Biopharmaceuticals in the second quarter worth approximately $6,480,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Day One Biopharmaceuticals by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock worth $33,575,000 after acquiring an additional 336,281 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.