Morgan Stanley lowered the firm’s price target on Disc Medicine (IRON) to $75 from $120 and keeps an Overweight rating on the shares. While the firm expects the bitopertin news to weigh on shares in the near term, it views the CRL as “more salvageable than an outright rejection” and now models a 2028 launch for bitopertin, from 2026, assuming an updated FDA decision in mid-2027, with peak market share now forecast at 45%, down from 55% previously.
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