Maintaining a Buy on IRON: Confidence in Bitopertin’s Regulatory Path, Commercial Readiness, and Broader Hematology Pipeline Upside

In a report released yesterday, Evan Seigerman from BMO Capital maintained a Buy rating on Disc Medicine, with a price target of $120.00.

Evan Seigerman has given his Buy rating due to a combination of factors, primarily his confidence that bitopertin remains on track for a regulatory decision despite recent controversy and share volatility. He notes that Disc management continues to report steady, constructive communication with the FDA, with no indications that external criticism has altered the agency’s review or introduced new obstacles. Even if approval timing were to slip to the formal PDUFA date or require additional APOLLO data, he views this as a timing issue rather than a threat to the long‑term value opportunity.
Seigerman also emphasizes Disc’s proactive commercial build‑out, including a specialized sales force, medical science liaisons, and access teams targeted at high‑value accounts to support a smooth and effective bitopertin launch. Beyond bitopertin, he highlights the strength of Disc’s broader pipeline, citing encouraging preclinical and early clinical data for DISC‑0974 and DISC‑3405 in rare hematologic conditions as additional value drivers. Taken together, these elements underpin his view that the shares offer attractive upside into and beyond the expected 2026 catalysts, justifying his Buy recommendation on IRON.

In another report released today, Raymond James also reiterated a Buy rating on the stock with a $117.00 price target.