Rami Katkhuda, an analyst from LifeSci Capital, maintained the Buy rating on Disc Medicine. The associated price target remains the same with $110.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Rami Katkhuda’s rating is based on Disc Medicine’s strong financial position and promising product pipeline. The company reported a substantial cash reserve of $615.9 million, bolstered by a recent public offering that netted approximately $211 million, extending its financial runway into 2029. This financial stability positions Disc Medicine well for future growth and development.
Additionally, the company’s lead product, bitopertin, is under review by the FDA for accelerated approval, with a decision expected by the end of 2025 or early 2026. The potential market for bitopertin, particularly in treating erythropoietic protoporphyria (EPP), is significant, with expectations of it becoming a billion-dollar opportunity. The enthusiasm from key opinion leaders regarding bitopertin’s mechanism of action and its ability to address EPP symptoms further supports the anticipated broad and rapid uptake upon approval.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $118.00 price target.
Based on the recent corporate insider activity of 56 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.