Day One Biopharmaceuticals, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ami Fadia from Needham maintained a Buy rating on the stock and has a $16.00 price target.
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Ami Fadia’s rating is based on several positive indicators for Day One Biopharmaceuticals. The company’s third-quarter earnings per share were better than expected, coming in at -$0.19 compared to the consensus estimate of -$0.30. This was achieved through slightly higher revenues and significantly lower research and development expenses, although there was a slight increase in selling, general, and administrative costs.
Additionally, the sales of Ojemda, one of the company’s key products, exceeded expectations by approximately 5%, driven by increased market share in the second-line market and strong patient access. The management has adjusted its full-year guidance to the higher end of the previous range, indicating confidence in continued performance. These factors combined suggest a positive outlook for the company’s stock, justifying the Buy rating.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $26.00 price target.