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

Needham & Company LLC restated their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $33.00 price objective on the stock.

DAWN has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. Bank of America decreased their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $35.86.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock opened at $11.56 on Monday. The stock has a market cap of $1.17 billion, a P/E ratio of -11.22 and a beta of -1.51. The stock’s 50 day simple moving average is $13.37 and its 200-day simple moving average is $13.95. Day One Biopharmaceuticals has a 1-year low of $11.52 and a 1-year high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its 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 company had revenue of $93.76 million for the quarter, compared to analyst estimates of $15.05 million. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. As a group, research analysts expect that Day One Biopharmaceuticals will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 11,245 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $16.03, for a total value of $180,257.35. Following the sale, the insider now owns 1,085,790 shares of the company’s stock, valued at $17,405,213.70. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 51,745 shares of company stock valued at $748,567 over the last quarter. 8.40% of the stock is owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of large investors have recently modified their holdings of DAWN. Renaissance Technologies LLC purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth $994,000. Hsbc Holdings PLC purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth $163,000. Ally Bridge Group NY LLC purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth $7,387,000. Marshall Wace LLP increased its position in shares of Day One Biopharmaceuticals by 20.1% during the second quarter. Marshall Wace LLP now owns 161,129 shares of the company’s stock worth $2,220,000 after acquiring an additional 26,958 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth $124,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.