Analyst Alec Stranahan of Bank of America Securities reiterated a Buy rating on Day One Biopharmaceuticals (DAWN – Research Report), reducing the price target to $20.00.
Alec Stranahan has given his Buy rating due to a combination of factors including the promising launch of Ojemda, which has shown solid revenue figures and a positive trajectory in prescription growth. The recent financial results indicate that Ojemda’s revenue aligns with expectations, and the increase in new prescriptions is encouraging for future uptake. Additionally, the potential for international expansion, with the EMA reviewing regulatory filings, suggests further revenue opportunities beyond the US market.
Furthermore, Day One Biopharmaceuticals’ pipeline shows potential for growth with developments like the DAY301 antibody-drug conjugate and the FIREFLY-2 phase 3 study, which could expand the market for Ojemda. These advancements, along with the company’s strategic positioning and operational trends, support the revised price objective of $20, reinforcing the Buy rating.
Stranahan covers the Healthcare sector, focusing on stocks such as Novavax, TG Therapeutics, and Krystal Biotech. According to TipRanks, Stranahan has an average return of -10.2% and a 41.15% success rate on recommended stocks.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $36.00 price target.