H.C. Wainwright analyst Andres Y. Maldonado reiterated a Buy rating on Day One Biopharmaceuticals (DAWN – Research Report) today and set a price target of $36.00.
Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight the promising outlook for Day One Biopharmaceuticals. The company has demonstrated strong momentum with its product OJEMDA, showing a significant quarter-over-quarter growth rate of 44%, which is supported by increased prescription volumes and improved revenue metrics. The total revenue for the year reached $131.2 million, with OJEMDA contributing $57.2 million in net product sales, indicating robust market acceptance.
Additionally, the classification of OJEMDA as a pediatric-only therapy by the Centers for Medicare & Medicaid Services has positively impacted the company’s financials by reducing rebate percentages, thereby enhancing gross-to-net revenue performance. The strategic focus on maintaining high treatment persistence rates, optimizing revenue, and expanding prescriber adoption further supports the Buy rating. The company’s ongoing clinical development efforts, including the FIREFLY-2 trial and the DAY301 program, also contribute to the positive outlook, reinforcing the potential for sustained growth and expansion in the patient population.
According to TipRanks, Y. Maldonado is a 3-star analyst with an average return of 5.1% and a 35.90% success rate.
In another report released today, Needham also reiterated a Buy rating on the stock with a $32.00 price target.
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