Analyst Soumit Roy from JonesTrading reiterated a Buy rating on Day One Biopharmaceuticals (DAWN – Research Report) and decreased the price target to $30.00 from $34.00.
Soumit Roy has given his Buy rating due to a combination of factors influencing Day One Biopharmaceuticals’ performance and future prospects. The company’s recent quarterly revenue aligns with expectations, indicating a successful drug launch despite challenges in converting certain physician groups accustomed to traditional treatments. The once-weekly dosing regimen of Ojemda has been well-received, particularly in pediatric patients, which is contributing to high compliance rates.
Furthermore, the company’s financial outlook remains positive, with projected revenue growth from Ojemda expected to continue into 2025. The stock’s current trading value suggests potential upside, especially with anticipated data from DAY-301 in the latter half of 2025. Additionally, strategic financial maneuvers, such as reducing Medicaid rebates, have bolstered profitability, reinforcing the Buy recommendation with a price target of $30.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $40.00 price target.