Disc Medicine selloff brings buying opportunity, says Wedbush

Wedbush views the selloff in Disc Medicine (IRON) shares after Reuters reported the FDA delayed by two weeks a review of the company’s bitopertin due to concerns over trial data as a buying opportunity. The analyst sees limited risk to bitopertin’s eventual approval given the drug’s “strong efficacy, potential liver benefit, and limited alternatives.” The two week delay has a negligible impact, the analyst tells investors in a research note. Wedbush adds that a later launch would allow additional time for Disc Medicine to build commercial readiness. It keeps an Outperform rating on the shares with a $110 price target The stock in morning trading is down 6% to $72.32.