Disc Medicine, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Douglas Tsao from H.C. Wainwright maintained a Buy rating on the stock and has a $118.00 price target.
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Douglas Tsao has given his Buy rating due to a combination of factors that highlight Disc Medicine’s promising position in the treatment of anemia related to myelofibrosis. Following the failure of Bristol-Myers’ luspatercept in its Phase 3 study, Disc Medicine’s DISC-974 has gained attention as a leading candidate in this area. The early data from the RALLY-MF Phase 2 study has shown positive clinical effects, which has further fueled investor optimism.
Moreover, DISC-0974 has demonstrated significant improvements in anemia across various patient subgroups, including those on momelotinib. The treatment has resulted in consistent decreases in hepcidin and increases in serum iron levels, with a notable percentage of patients achieving an overall response. This is a marked improvement over historical response rates, indicating the potential of DISC-0974 to address unmet needs in the market. Additionally, the anticipated data from other ongoing trials in polycythemia vera and sickle cell disease further supports the company’s robust pipeline, contributing to the Buy rating.