Needham & Company LLC Reiterates Buy Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Needham & Company LLC restated their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $33.00 target price on the stock.

DAWN has been the topic of several other research reports. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Monday, July 8th. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price objective on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Bank of America raised Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $24.00 in a research report on Thursday, August 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.71.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ DAWN opened at $14.65 on Thursday. The business’s 50 day moving average price is $14.19 and its 200-day moving average price is $14.39. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -14.22 and a beta of -1.51. Day One Biopharmaceuticals has a fifty-two week low of $10.90 and a fifty-two week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.58. The firm had revenue of $93.76 million for the quarter, compared to analysts’ expectations of $15.05 million. During the same quarter in the previous year, the business earned ($0.54) earnings per share. Sell-side analysts predict that Day One Biopharmaceuticals will post -1.65 earnings per share for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 2,232 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $31,248.00. Following the completion of the transaction, the insider now owns 1,127,535 shares in the company, valued at approximately $15,785,490. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was 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 owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samuel C. Blackman sold 2,232 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $14.00, for a total value of $31,248.00. Following the transaction, the insider now owns 1,127,535 shares of the company’s stock, valued at $15,785,490. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,748 shares of company stock worth $689,072. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Day One Biopharmaceuticals in the 2nd quarter valued at about $113,000. Point72 DIFC Ltd purchased a new position in shares of Day One Biopharmaceuticals in the 2nd quarter valued at about $124,000. Hsbc Holdings PLC purchased a new position in shares of Day One Biopharmaceuticals in the 2nd quarter valued at about $163,000. Finally, SteelPeak Wealth LLC purchased a new position in shares of Day One Biopharmaceuticals in the 2nd quarter valued at about $218,000. 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.