BofA Securities Starts Day One Biopharmaceuticals (DAWN) at Buy
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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."
Shares of Day One Biopharmaceuticals closed at $21.23 yesterday.
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