Rami Katkhuda, an analyst from LifeSci Capital, maintained the Buy rating on Disc Medicine. The associated price target remains the same with $85.00.
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Rami Katkhuda has given his Buy rating due to a combination of factors that highlight the potential of Disc Medicine’s DISC-0974 in addressing myelofibrosis-related anemia. The recent Phase III trial results for Reblozyl, a competing treatment, did not achieve its primary endpoint, which opens up an opportunity for DISC-0974 to establish itself with a unique mechanism of action. In a Phase Ib study, DISC-0974 demonstrated significant reductions in hepcidin levels and strong hematologic responses, regardless of patients’ baseline transfusion status or concurrent use of JAK inhibitors.
Disc Medicine is currently conducting a Phase II study to further evaluate the safety and efficacy of DISC-0974 in various cohorts of myelofibrosis patients with anemia. The promising initial data from this study, coupled with the high unmet need in the myelofibrosis patient population, supports the potential for DISC-0974 to make a significant impact. Furthermore, the broad applicability of DISC-0974 across different types of anemia adds to its commercial potential, making it a compelling investment opportunity according to Katkhuda’s analysis.
In another report released on July 3, H.C. Wainwright also reiterated a Buy rating on the stock with a $118.00 price target.