Needham & Company LLC Boosts Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $33.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price target raised by Needham & Company LLC from $32.00 to $33.00 in a research note issued on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 143.90% from the stock’s previous close.

DAWN has been the subject of a number of other research reports. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and increased their price target for the company from $11.00 to $24.00 in a report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.71.

Day One Biopharmaceuticals Trading Down 3.7 %

Shares of DAWN opened at $13.53 on Wednesday. The company has a 50-day simple moving average of $13.88 and a 200-day simple moving average of $14.44. Day One Biopharmaceuticals has a 52-week low of $9.67 and a 52-week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.70. The company had revenue of $8.19 million during the quarter, compared to analysts’ expectations of $0.90 million. As a group, research analysts anticipate that Day One Biopharmaceuticals will post -1.68 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, General Counsel Adam Dubow sold 3,202 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 transaction of $44,828.00. Following the completion of the sale, the general counsel now directly owns 26,928 shares in the company, valued at $376,992. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Adam Dubow sold 3,202 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 transaction of $44,828.00. Following the completion of the sale, the general counsel now directly owns 26,928 shares in the company, valued at $376,992. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the insider now owns 1,097,535 shares of the company’s stock, valued at approximately $15,606,947.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,748 shares of company stock worth $1,009,272 over the last ninety days. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Essex Investment Management Co. LLC acquired a new stake in shares of Day One Biopharmaceuticals in the third quarter worth approximately $2,566,000. Handelsbanken Fonder AB boosted its position in shares of Day One Biopharmaceuticals by 16.9% in the third quarter. Handelsbanken Fonder AB now owns 27,000 shares of the company’s stock worth $376,000 after acquiring an additional 3,900 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Day One Biopharmaceuticals in the second quarter worth approximately $124,000. Point72 Asset Management L.P. acquired a new stake in shares of Day One Biopharmaceuticals in the second quarter worth approximately $6,480,000. Finally, Deerfield Management Company L.P. Series C lifted its position in Day One Biopharmaceuticals by 65.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock valued at $40,281,000 after buying an additional 1,157,825 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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.