Bank of America Cuts Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $25.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price target cut by Bank of America from $28.00 to $25.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on DAWN. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Buy” and an average price target of $35.86.

Day One Biopharmaceuticals Trading Up 1.6 %

Day One Biopharmaceuticals stock opened at $12.40 on Tuesday. The company has a fifty day simple moving average of $13.59 and a 200-day simple moving average of $14.00. The stock has a market cap of $1.25 billion, a P/E ratio of -12.04 and a beta of -1.46. Day One Biopharmaceuticals has a 12-month low of $11.94 and a 12-month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The business had revenue of $93.76 million for the quarter, compared to analysts’ expectations of $15.05 million. During the same period last year, the firm earned ($0.54) earnings per share. As a group, sell-side analysts forecast that Day One Biopharmaceuticals will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Samuel C. Blackman sold 11,245 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $16.03, for a total transaction of $180,257.35. Following the completion of the sale, the insider now owns 1,085,790 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 51,745 shares of company stock valued at $748,567. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Day One Biopharmaceuticals by 178.5% in the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock valued at $103,254,000 after acquiring an additional 4,750,936 shares in the last quarter. Braidwell LP boosted its holdings in Day One Biopharmaceuticals by 60.5% in the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock valued at $67,893,000 after purchasing an additional 1,837,949 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Day One Biopharmaceuticals by 2.3% in the 3rd 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 in the last quarter. Deerfield Management Company L.P. Series C increased its position 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 purchasing an additional 1,157,825 shares during the period. Finally, Vestal Point Capital LP raised its stake in shares of 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 buying an additional 1,250,000 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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.