Stifel raised the firm’s price target on Disc Medicine to $65 from $50 and keeps a Buy rating on the shares after having hosted the company’s CEO and CMO as part of the firm’s Boston Biotech Bus Tour. After having discussed the bitopertin program in Erythropoietic Protoporphyria, or EPP, the BEACON safety and efficacy data, and implications for the placebo-controlled phase 2 AURORA study, the firm thinks expectations are high heading into AURORA, but also believes that the BEACON data imply a large effect over what it estimates the placebo response will be. The firm is “optimistic” on DISC-0974 in Myelofibrosis and Chronic Kidney Disease and believes CKD data is likely to show positive biomarker trends later this year in the backdrop of low investor expectations, Stifel added.
Published first on TheFly
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