BofA Securities Starts Day One Biopharmaceuticals (DAWN) at Buy

(Updated - December 1, 2022 9:10 AM EST)

BofA Securities analyst Alex Stranahan initiates coverage on Day One Biopharmaceuticals (NASDAQ: DAWN) with a Buy rating and a price target of $34.00.

The analyst commented, "Lead candidate, tovorafenib, is potentially a game-changer in pLGG, which can replace the current SOC consisting of mostly chemo, radiation, and invasive surgery, which while acceptable in efficacy, has long-term toxicity/health burdens on patients. That said, tovorafenib, in our view, provides a solution that minimizes toxicity while also exhibiting superior tumor control (64% ORR, 91% clinical benefit rate). Together, our SOTP NPV analysis yields a PO of $34/sh on what we would consider to be conservative estimates. We initiate coverage of Day One with a Buy rating."

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 $21.23 yesterday.

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