Piper Sandler Reiterates Overweight Rating on Day One Biopharmaceuticals (DAWN)

Piper Sandler analyst Joseph M. Catanzaro reiterated an Overweight rating and $40.00 price target on Day One Biopharmaceuticals (NASDAQ: DAWN).

The analyst commented, "As we had done previously with other recent commercial launches (see Elahere here and Padcev here), we surveyed physicians to better gauge early utilization of Ojemda in the pLGG population. Overall, the data suggest very favorable early adoption with our survey capturing 100+ patients on commercial Ojemda across just 13 clinical sites (vs. 200 accounts DAWN is targeting). Reminiscent of our prior work with Elahere and Padcev, with conservative assumptions our survey population alone has potentially generated Ojemda revenues in excess of current consensus expectations (Street consensus currently $1.0M). Altogether, we believe the early days of the Ojemda launch are being underestimated and would expect a 2Q beat with FY24 numbers to move higher thereafter. Remain Overweight with $40 PT."

For an analyst ratings summary and ratings history on Day One Biopharmaceuticals click here. For more ratings news on Day One Biopharmaceuticals click here.

Shares of Day One Biopharmaceuticals closed at $13.71 yesterday.

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