Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Day One Biopharmaceuticals and keeping the price target at $25.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors, primarily centered around the promising data from Day One Biopharmaceuticals’ FIREFLY-1 trial. The trial results demonstrated significant durability and effectiveness of Ojemda in treating recurrent or refractory pediatric low-grade glioma (pLGG). The data showed that a substantial proportion of patients remained treatment-free for over a year, with a median time to next treatment extending beyond three years. Additionally, the trial highlighted minimal tumor regrowth in the initial months post-therapy and sustained clinical benefits even when radiographic progression was observed.
Furthermore, the commercial execution and growing prescriber adoption of Ojemda reinforce its potential for sustained growth and future expansion into frontline settings. The updated data provides clarity on the treatment course, emphasizing Ojemda’s role as a long-term disease management therapy. These factors collectively support the Buy rating, with a price target of $25, as the drug shows promise in maintaining its trajectory and potentially expanding its use to newly diagnosed patients.
In another report released today, Needham also reiterated a Buy rating on the stock with a $16.00 price target.