Disc Medicine (IRON – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 27. Analyst Thomas Smith from Leerink Partners reiterated a Buy rating on the stock and has a $85.00 price target.
Thomas Smith has given his Buy rating due to a combination of factors that highlight Disc Medicine’s promising developments in their hematology-focused pipeline. The company has successfully maintained its clinical timelines and development plans, which are in line with previous expectations. A key factor is the anticipated NDA submission for their lead asset, bitopertin, aimed at treating erythropoietic protoporphyria, with plans to initiate a Phase 3 trial by mid-2025.
Additionally, the encouraging results from the Phase 1b study of DISC-0974 in myelofibrosis anemia, which demonstrated significant improvements in hemoglobin levels, further support the positive outlook. The expected data from ongoing studies in anemia of chronic kidney disease and polycythemia vera also contribute to the optimism. Overall, the company’s strategic execution and potential for accelerated commercialization are seen as significant value drivers for Disc Medicine’s stock.
In another report released on February 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $118.00 price target.
IRON’s price has also changed moderately for the past six months – from $49.450 to $54.500, which is a 10.21% increase.
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