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Buy Rating for Day One Biopharmaceuticals Driven by FDA Approval and Strong Market Potential

Buy Rating for Day One Biopharmaceuticals Driven by FDA Approval and Strong Market Potential

Analyst Andres Y. Maldonado of H.C. Wainwright maintained a Buy rating on Day One Biopharmaceuticals (DAWNResearch Report), retaining the price target of $36.00.

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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight the potential of Day One Biopharmaceuticals. The recent FDA approval of Ojemda (tovorafenib) for BRAF-altered relapsed/refractory pediatric low-grade glioma (pLGG) sets a promising stage for its commercial launch. The company’s revenue projections for 2025 are optimistic, supported by an expanding market and longer treatment durations, with a significant addressable market of 2,000–3,000 patients in the U.S. alone. Additionally, the potential for front-line use, pending results from the FIREFLY-2 trial, could further enhance growth prospects.
The ASCO 2025 data provides strong evidence for the drug’s safety and efficacy, with manageable side effects and a high rate of compliance among patients. The data also shows that the impact on growth is reversible, which is crucial for long-term treatment viability. Furthermore, the initial market uptake, with over 1,600 prescriptions and $57.2M in net sales in 2024, underscores the unmet need and readiness of the market. These factors, combined with a robust pricing strategy and growing prescriber confidence, support the Buy rating and a price target of $36.

In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $29.00 price target.

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