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

Needham & Company LLC reaffirmed 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 target price on the stock.

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

Day One Biopharmaceuticals Trading Down 2.0 %

Shares of DAWN stock opened at $11.56 on Monday. The firm has a fifty day moving average price of $13.37 and a 200 day moving average price of $13.95. The company has a market cap of $1.17 billion, a P/E ratio of -11.22 and a beta of -1.51. Day One Biopharmaceuticals has a 12 month low of $11.52 and a 12 month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million for the quarter, compared to analyst estimates of $15.05 million. During the same quarter in the previous year, the firm posted ($0.54) EPS. On average, equities analysts forecast that Day One Biopharmaceuticals will post -0.88 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 11,245 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $16.03, for a total transaction of $180,257.35. Following the completion of the transaction, the insider now directly owns 1,085,790 shares of the company’s stock, valued at $17,405,213.70. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 51,745 shares of company stock worth $748,567. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DAWN. Mirae Asset Global Investments Co. Ltd. raised its holdings in Day One Biopharmaceuticals by 38.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock worth $51,000 after purchasing an additional 1,002 shares in the last quarter. Quest Partners LLC raised its holdings in Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after purchasing an additional 7,668 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Day One Biopharmaceuticals during the second quarter worth about $124,000. Hsbc Holdings PLC purchased a new position in Day One Biopharmaceuticals in the second quarter valued at about $163,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Day One Biopharmaceuticals in the third quarter valued at about $174,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.