LifeSci Capital analyst Rami Katkhuda maintained a Buy rating on Disc Medicine today and set a price target of $85.00.
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Rami Katkhuda has given his Buy rating due to a combination of factors including Disc Medicine’s strong financial position and promising pipeline developments. The company reported a robust cash reserve of $650 million, which is projected to sustain operations until 2028, providing a solid financial foundation.
Additionally, Disc Medicine’s progress with its drug candidate, bitopertin, is noteworthy. The company is on track to submit a New Drug Application for bitopertin under the accelerated approval pathway, with ongoing studies showing promising results in terms of safety and efficacy. The positive outcomes from previous trials, such as significant reductions in PPIX levels and improvements in sunlight tolerance, bolster confidence in the drug’s potential. Furthermore, the company’s other candidate, DISC-0974, continues to show meaningful reductions in hepcidin and durable hematologic responses, enhancing the overall attractiveness of the stock.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IRON in relation to earlier this year.