Needham analyst Ami Fadia reiterated a Buy rating on Day One Biopharmaceuticals today and set a price target of $16.00.
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Ami Fadia’s rating is based on the promising results from Day One Biopharmaceuticals’ FIREFLY-1 study, which showcased the prolonged clinical activity and durability of their treatment, Ojemda, in patients with 2L pLGG. The study highlighted a significant improvement in the objective response rate, which increased from 25% to 39%, along with a median duration of response of 19.4 months.
Additionally, the data revealed that a substantial percentage of patients experienced benefits even after disease progression, with minimal tumor rebound observed in the first six months off therapy. Furthermore, a majority of patients who transitioned to observation maintained a treatment-free interval of at least 12 months, and early data indicated promising tumor reductions upon retreatment. These findings support the potential for Ojemda’s continued growth in its application, reinforcing the Buy rating as the company advances its pipeline and updates on other promising projects.
In another report released on November 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $25.00 price target.