Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Day One Biopharmaceuticals and decreased the price target to $25.00 from $36.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight the promising future of Day One Biopharmaceuticals. The company’s key product, OJEMDA, has shown significant growth potential with $33.6 million in net sales in the second quarter of 2025 and over 1,600 prescriptions in the first eight months post-approval. This growth is supported by widespread BRAF-fusion testing, prescriber confidence in the drug’s tolerability, and its convenient once-weekly dosing schedule. Additionally, updated data presented at ASCO 2025 indicate that OJEMDA can be used over extended periods without long-term endocrine issues, further solidifying its position in the market.
Furthermore, the favorable safety profile of OJEMDA, particularly its low-grade rash side effects, positions it well against competitors like MEK inhibitors. The ongoing Phase 3 FIREFLY-2 study aims to expand its use into newly diagnosed pediatric low-grade glioma cases, which represents a significantly larger market. Beyond OJEMDA, Day One Biopharmaceuticals is also advancing other promising projects, such as the DAY301 antibody-drug conjugate, which underscores the company’s strategic focus on growth and innovation in oncology. These factors collectively reinforce the Buy rating, despite a modest revision in the long-term revenue forecast.
In another report released today, Needham also maintained a Buy rating on the stock with a $16.00 price target.