Analyst Andres Y. Maldonado of H.C. Wainwright maintained a Buy rating on Day One Biopharmaceuticals (DAWN – Research Report), with a price target of $36.00.
Andres Y. Maldonado has given his Buy rating due to a combination of factors surrounding the promising outlook for Day One Biopharmaceuticals, particularly with their drug Ojemda. The drug, which is aimed at treating relapsed/refractory BRAF-altered pediatric low-grade gliomas, has shown a strong initial market presence and is expected to become a new standard of care. The accelerated launch and expanding prescriber base highlight its potential in addressing a significant unmet need in pediatric neuro-oncology.
Ojemda’s commercial potential is further supported by the sizable patient population eligible for treatment, with an estimated 1,100 newly diagnosed patients each year who could benefit from this targeted therapy. The chronic nature of the disease means that the addressable market extends beyond newly diagnosed cases, encompassing a growing pool of relapsed or refractory patients. With a robust revenue generation in its first year and favorable prescription trends, the drug’s market dynamics and pricing strategy are aligned with a positive revenue trajectory, reinforcing the Buy rating.
In another report released on April 1, JonesTrading also reiterated a Buy rating on the stock with a $30.00 price target.