Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Consensus Rating of “Buy” by Brokerages

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has earned an average rating of “Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $35.86.

DAWN has been the subject of a number of research analyst reports. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Bank of America cut their price target on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, January 13th.

Day One Biopharmaceuticals Trading Up 1.1 %

NASDAQ DAWN opened at $12.51 on Friday. Day One Biopharmaceuticals has a 12 month low of $11.13 and a 12 month high of $18.07. The stock has a market cap of $1.26 billion, a PE ratio of -12.15 and a beta of -1.46. The stock’s 50 day moving average is $12.86 and its 200 day moving average is $13.87.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released 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 company had revenue of $93.76 million during the quarter, compared to analysts’ expectations of $15.05 million. During the same period last year, the firm posted ($0.54) EPS. On average, analysts forecast that Day One Biopharmaceuticals will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total value of $399,300.00. Following the sale, the insider now owns 1,034,015 shares in the company, valued at $13,762,739.65. This trade represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 51,745 shares of company stock valued at $748,567 in the last ninety days. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DAWN. FMR LLC boosted its position in Day One Biopharmaceuticals by 178.5% in the 3rd quarter. FMR LLC now owns 7,412,380 shares of the company’s stock valued at $103,254,000 after buying an additional 4,750,936 shares during the period. Braidwell LP raised its stake in shares of Day One Biopharmaceuticals by 60.5% during the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock valued at $67,893,000 after acquiring an additional 1,837,949 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Day One Biopharmaceuticals by 2.3% in the third quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock valued at $55,336,000 after purchasing an additional 87,262 shares during the period. Deerfield Management Company L.P. Series C grew its stake in Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after purchasing an additional 1,157,825 shares in the last quarter. Finally, Vestal Point Capital LP increased its holdings in Day One Biopharmaceuticals by 100.0% during the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after purchasing an additional 1,250,000 shares during the period. 87.95% of the stock is currently owned by institutional investors.

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.