Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Rating Upgraded by TD Cowen

Day One Biopharmaceuticals (NASDAQ:DAWN) was upgraded by equities research analysts at TD Cowen to a “strong-buy” rating in a report released on Monday, Zacks.com reports.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. decreased 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 research report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. 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. Piper Sandler restated an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. Finally, 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $35.71.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock opened at $14.81 on Monday. The firm’s 50 day simple moving average is $14.20 and its 200-day simple moving average is $14.38. The company has a market cap of $1.49 billion, a P/E ratio of -14.38 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million for the quarter, compared to analysts’ expectations of $15.05 million. During the same period in the previous year, the firm posted ($0.54) earnings per share. On average, analysts expect that Day One Biopharmaceuticals will post -1.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeremy Bender sold 10,681 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $14.00, for a total value of $149,534.00. Following the completion of the transaction, the chief executive officer now owns 98,932 shares in the company, valued at approximately $1,385,048. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jeremy Bender sold 10,681 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $14.00, for a total value of $149,534.00. Following the completion of the transaction, the chief executive officer now owns 98,932 shares in the company, valued at approximately $1,385,048. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Samuel C. Blackman sold 2,232 shares of the company’s 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 sale, the insider now directly owns 1,127,535 shares in the company, valued at approximately $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 90 days, insiders sold 49,248 shares of company stock worth $697,082. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Large investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C grew its holdings in Day One Biopharmaceuticals by 65.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after acquiring an additional 1,157,825 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Day One Biopharmaceuticals by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock valued at $33,575,000 after acquiring an additional 336,281 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Day One Biopharmaceuticals by 8.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock valued at $25,460,000 after acquiring an additional 139,160 shares during the period. Estuary Capital Management LP raised its position in shares of Day One Biopharmaceuticals by 82.5% in the 1st quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock valued at $26,616,000 after acquiring an additional 728,240 shares during the period. Finally, Ally Bridge Group NY LLC acquired a new stake in shares of Day One Biopharmaceuticals in the 2nd quarter valued at approximately $7,387,000. 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.