Reported timing of Disc Medicine review date a positive, says Morgan Stanley

Morgan Stanley reiterated an Overweight rating and $120 price target on Disc Medicine (IRON) after Reuters reported that the FDA is pushing back by two weeks a review of Disc’s experimental drug for a rare blood disorder following concerns about trial data and its risk for abuse. On an analyst call to discuss the unconfirmed article, the company’s management indicated the reported February 10 review date fits in the guidance that it has communicated and does not view the alleged concerns raised in the article as representative of significant risk, the analyst tells investors in a research note. The firm views the reporting timing as a positive for providing clarity and indicative that the review remains on track.