Morgan Stanley upgraded Disc Medicine (IRON) to Overweight from Equal Weight with a price target of $85, up from $40. With the company’s end-of-Phase 2 meeting feedback indicating potential for accelerated approval based on existing data, the firm contends that bitopertin is likely to reach the market faster and with a higher probability, the analyst tells investors in a research note. If Disc is able to secure accelerated approval of bitopertin, aspects of the firm’s bull case begin to come into play, with shares having potential to top $110, the firm added.
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