Wedbush Brokers Increase Earnings Estimates for DAWN

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) – Equities researchers at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of Day One Biopharmaceuticals in a research report issued to clients and investors on Thursday, October 31st. Wedbush analyst R. Driscoll now forecasts that the company will post earnings of ($0.70) per share for the year, up from their previous forecast of ($1.28). Wedbush has a “Outperform” rating and a $33.00 price objective on the stock. The consensus estimate for Day One Biopharmaceuticals’ current full-year earnings is ($1.65) per share. Wedbush also issued estimates for Day One Biopharmaceuticals’ Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.77) EPS, FY2026 earnings at ($0.07) EPS, FY2027 earnings at $0.98 EPS and FY2028 earnings at $2.12 EPS.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.58. The business had revenue of $93.76 million for the quarter, compared to analyst estimates of $15.05 million. During the same period in the previous year, the firm posted ($0.54) EPS.

DAWN has been the topic of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $24.00 in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.71.

Day One Biopharmaceuticals Trading Up 1.1 %

Shares of DAWN stock opened at $14.81 on Monday. The business’s 50-day moving average price is $14.20 and its 200-day moving average price is $14.38. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -14.38 and a beta of -1.51. Day One Biopharmaceuticals has a 12 month low of $10.90 and a 12 month high of $18.07.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. TimesSquare Capital Management LLC boosted its stake in shares of Day One Biopharmaceuticals by 8.2% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock valued at $25,460,000 after purchasing an additional 139,160 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in Day One Biopharmaceuticals by 9.8% in the third quarter. SteelPeak Wealth LLC now owns 17,400 shares of the company’s stock worth $242,000 after buying an additional 1,550 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Day One Biopharmaceuticals by 87.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,203 shares of the company’s stock valued at $267,000 after acquiring an additional 8,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 valued at $51,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Day One Biopharmaceuticals during the 3rd quarter valued at about $2,566,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Insider Activity

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 3,202 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $44,828.00. Following the sale, the general counsel now owns 26,928 shares of the company’s stock, valued at $376,992. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Samuel C. Blackman sold 2,232 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $31,248.00. Following the transaction, the insider now directly owns 1,127,535 shares in the company, valued at $15,785,490. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Adam Dubow sold 3,202 shares of Day One Biopharmaceuticals stock in a transaction on Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $44,828.00. Following the completion of the transaction, the general counsel now directly owns 26,928 shares in the company, valued at approximately $376,992. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,248 shares of company stock worth $697,082 over the last ninety days. Company insiders own 8.40% of the company’s stock.

About Day One Biopharmaceuticals

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.