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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Read More on IRON:
- Disc Medicine price target raised to $112 from $70 at BMO Capital
- Disc Medicine upgraded at Raymond James as bitopertin ‘uber bull case plays out’
- Disc Medicine upgraded to Strong Buy from Outperform at Raymond James
- Disc Medicine Gains FDA Support for Bitopertin Trial
- Disc Medicine announces feedback from FDA End of Phase 2 meeting for bitopertin
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