Day One Biopharmaceuticals (NASDAQ:DAWN) Given “Buy” Rating at 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 on Monday,Benzinga reports. They presently have a $33.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 195.70% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Bank of America reduced their price target on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Day One Biopharmaceuticals presently has an average rating of “Buy” and a consensus target price of $35.86.

Day One Biopharmaceuticals Trading Down 3.5 %

Day One Biopharmaceuticals stock opened at $11.16 on Monday. The stock has a market cap of $1.13 billion, a PE ratio of -10.83 and a beta of -1.46. The stock has a 50-day moving average price of $13.29 and a 200 day moving average price of $13.94. Day One Biopharmaceuticals has a 52 week low of $11.13 and a 52 week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating 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 period in the prior year, the firm earned ($0.54) EPS. On average, equities analysts predict that Day One Biopharmaceuticals will post -0.88 EPS for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $16.10, for a total value of $161,000.00. Following the transaction, the insider now directly owns 1,057,535 shares in the company, valued at $17,026,313.50. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 51,745 shares of company stock valued at $748,567. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in Day One Biopharmaceuticals by 178.5% during the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock valued at $103,254,000 after buying an additional 4,750,936 shares in the last quarter. Braidwell LP raised its stake in shares of Day One Biopharmaceuticals by 60.5% in the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock valued at $67,893,000 after acquiring an additional 1,837,949 shares during the period. Vestal Point Capital LP lifted its holdings in shares of Day One Biopharmaceuticals by 100.0% during the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $34,825,000 after acquiring an additional 1,250,000 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in Day One Biopharmaceuticals by 65.6% during the 2nd 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 period. Finally, First Turn Management LLC purchased a new stake in Day One Biopharmaceuticals during the 3rd quarter worth $13,204,000. 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.