Disc Medicine price target raised to $70 from $62 at Scotiabank

Scotiabank raised the firm’s price target on Disc Medicine (IRON) to $70 from $62 and keeps an Outperform rating on the shares. The firm views the company’s end-of-phase 2 FDA meeting update as a “home run” given alignment on all proposed endpoints for its phase 3 trial design to assess bitopertin, the analyst tells investors. The trial will assess bitopertin in erythropoietic protoporphyria and X-linked protoporphyria and, while the two are rare, the firm believes bitopertin will capture meaningful market share.