Day One Biopharmaceuticals price target raised to $36 from $32 at JPMorgan

JPMorgan raised the firm’s price target on Day One Biopharmaceuticals to $36 from $32 and keeps an Overweight rating on the shares. The analyst continues to see a high probability of “timely approval and clean product label” for tovorafenib in refractory pediatric low-grade glioma. The drug has an FDA action date of April 30. The firm does not see inclusion or exclusion of minor responses as materially impacting the tovorafenib launch curve. It does not see any adverse events that raise to the level of a black box warning.