Day One Biopharmaceuticals’ (DAWN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $33.00 target price on the stock.

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

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ DAWN opened at $14.65 on Thursday. The firm has a market capitalization of $1.29 billion, a PE ratio of -14.22 and a beta of -1.51. The business’s fifty day moving average price is $14.19 and its two-hundred day moving average price is $14.39. Day One Biopharmaceuticals has a 1-year low of $10.90 and a 1-year high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million during the quarter, compared to analyst estimates of $15.05 million. During the same quarter last year, the company earned ($0.54) earnings per share. Equities research analysts expect that Day One Biopharmaceuticals will post -1.65 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 3,202 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $44,828.00. Following the transaction, the general counsel now owns 26,928 shares of the company’s stock, valued at $376,992. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the business’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 completion of the transaction, the insider now directly owns 1,097,535 shares in the company, valued at $15,606,947.70. The trade was 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 available at this link. Also, General Counsel Adam Dubow sold 3,202 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $44,828.00. Following the completion of the transaction, the general counsel now directly owns 26,928 shares of the company’s stock, valued at $376,992. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,748 shares of company stock valued at $689,072. 8.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Day One Biopharmaceuticals by 38.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after purchasing an additional 1,002 shares during the last quarter. SG Americas Securities LLC bought a new stake in Day One Biopharmaceuticals during the 2nd quarter worth approximately $113,000. Point72 DIFC Ltd purchased a new stake in Day One Biopharmaceuticals in the 2nd quarter valued at $124,000. Hsbc Holdings PLC purchased a new stake in shares of Day One Biopharmaceuticals in the second quarter valued at about $163,000. Finally, Bayesian Capital Management LP bought a new position in shares of Day One Biopharmaceuticals during the 1st quarter worth approximately $221,000. 87.95% of the stock is currently 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.