Day One Biopharmaceuticals price target raised to $33 from $30 at Needham

Needham raised the firm’s price target on Day One Biopharmaceuticals to $33 from $30 and keeps a Buy rating on the shares. The company’s Ojemda was approved under the accelerated approval pathway and becomes the first drug to be approved for pLGG patients with both BRAF fusion or rearrangement, the analyst tells investors in a research note. There were no major surprises in the label, with FDA citing the overall response rate of 51% and an overall acceptable and competitive safety profile, even though the label includes warnings and precautions around skin reactions, Needham added.