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

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $16.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 69.67% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Piper Sandler boosted their price target on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. HC Wainwright dropped their price objective on Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Day One Biopharmaceuticals in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and an average target price of $24.43.

Day One Biopharmaceuticals Stock Up 6.2%

DAWN opened at $9.43 on Monday. The stock has a market capitalization of $968.23 million, a price-to-earnings ratio of -6.20 and a beta of -1.25. Day One Biopharmaceuticals has a twelve month low of $5.64 and a twelve month high of $14.46. The company has a 50-day simple moving average of $7.80 and a 200 day simple moving average of $7.12.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.09. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The company had revenue of $39.80 million during the quarter, compared to analysts’ expectations of $38.20 million. During the same period in the previous year, the company earned $0.38 EPS. The business’s revenue for the quarter was down 57.6% compared to the same quarter last year. Sell-side analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 15,894 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $141,615.54. Following the transaction, the chief executive officer directly owned 177,165 shares of the company’s stock, valued at approximately $1,578,540.15. The trade was a 8.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Dubow sold 4,319 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $38,482.29. Following the completion of the sale, the insider owned 62,626 shares in the company, valued at $557,997.66. This trade represents a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 28,001 shares of company stock valued at $249,489. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in Day One Biopharmaceuticals during the 3rd quarter valued at approximately $39,000. Ameritas Investment Partners Inc. lifted its position in shares of Day One Biopharmaceuticals by 44.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after purchasing an additional 2,264 shares during the period. Quarry LP bought a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter valued at $49,000. Entropy Technologies LP bought a new stake in shares of Day One Biopharmaceuticals in the 2nd quarter valued at $67,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Day One Biopharmaceuticals during the second quarter worth $69,000. 87.95% of the stock is owned by institutional investors and hedge funds.

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.