Analyst Tara Bancroft from TD Cowen maintained a Buy rating on Day One Biopharmaceuticals (DAWN – Research Report) and keeping the price target at $34.00.
Tara Bancroft’s rating is based on the impressive growth trajectory of Day One Biopharmaceuticals, particularly driven by the strong performance of their drug Ojemda. The company reported a significant increase in revenue, surpassing market expectations, which indicates a successful launch phase. The steady rise in new patient starts and the long duration of treatment for existing patients have contributed to this growth, signaling a robust demand for Ojemda.
Additionally, the recent CMS designation for Ojemda has improved the company’s pricing strategy, leading to favorable financial outcomes. The management’s strategic plans to expand the prescriber base and establish Ojemda as a standard of care further support the positive outlook. These factors collectively suggest a promising future for Day One Biopharmaceuticals, justifying the Buy rating.
In another report released on February 11, Bank of America Securities also reiterated a Buy rating on the stock with a $25.00 price target.