Evan Seigerman Recommends Buy Rating for Disc Medicine Due to Promising Phase 2 Data and Potential Stock Appreciation

BMO Capital analyst Evan Seigerman has maintained their bullish stance on IRON stock, giving a Buy rating today.

Evan Seigerman has given his Buy rating due to a combination of factors including the promising initial Phase 2 data for Disc Medicine’s DISC-0974 in treating myelofibrosis anemia. The data showed significant responses in non-transfusion-dependent and low transfusion-dependent patients, which aligns with the firm’s expectations and suggests potential for further development. While the high transfusion-dependent group did not exhibit major responses, some patients showed signs of achieving transfusion independence, indicating potential efficacy in this subgroup.
Furthermore, improvements in fatigue scores among major responders highlight the clinical relevance of DISC-0974, suggesting it could be a valuable asset in pivotal trials. The overall positive preclinical and early clinical data across Disc Medicine’s portfolio, including other assets like bitopertin and DISC-3405, supports the expectation of stock appreciation as the company progresses with its hepcidin development program and engages in further interactions with the FDA.

In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $115.00 price target.

Based on the recent corporate insider activity of 52 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.