Disc Medicine initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Disc Medicine (IRON) with a Buy rating and no price target The shares are pricing in an opportunity for bitopertin that assumes a modest penetration of the “low-hanging” 3,000-6,000 highly-engaged erythropoietic protoporphyria patients, but the actual addressable market is three-times larger and should prove out in the market starting in 2026, the analyst tells investors in a research note. The firm views Disc Medicine’s DISC-0974 as an underappreciated opportunity that represents a nearly a $1B market in myelofibrosis anemia.