In a report released today, Ami Fadia from Needham maintained a Buy rating on Day One Biopharmaceuticals (DAWN – Research Report), with a price target of $27.00.
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Ami Fadia has given his Buy rating due to a combination of factors influencing Day One Biopharmaceuticals’ performance. Despite the first quarter of 2025 showing slightly lower than expected prescription trends for Ojemda, the overall sales growth remains robust. This growth is attributed to a steady increase in new patient additions, a high percentage of patients continuing their therapy, and an extended duration of treatment.
The management’s insights suggest that the quarter’s performance was affected by seasonal factors, such as a slow start in January and increased co-pay assistance requirements. However, these factors are not expected to significantly impact the rate of patient additions. Consequently, while there is a slight adjustment in the projected patient retention rate, the increased treatment duration supports a positive outlook, justifying the Buy rating with a price target adjustment to $27.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $36.00 price target.
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