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Investing.com - Morgan Stanley (NYSE:MS) initiated coverage on Disc Medicine (NASDAQ:IRON) with an Overweight rating and a price target of $85.00 on Thursday. According to InvestingPro data, analyst targets range from $75 to $132, suggesting significant upside potential from the current price of $53.17.
The research firm cited bitopertin’s potential to reach the market faster than previously expected through an accelerated approval process using PPIX as a surrogate endpoint ahead of data from the APOLLO trial.
Morgan Stanley models a 2026 launch for bitopertin with approximately $1.3 billion in unadjusted U.S. peak sales, or about $1 billion when risk-adjusted.
The firm also sees additional upside potential from Disc Medicine’s pipeline programs in anemia, specifically highlighting DISC-0974, which has Phase 2 myelofibrosis anemia data and Phase 1b NDD-CKD anemia data expected in the second half of 2025.
Morgan Stanley projects a 2030 launch for DISC-0974 in anemia of myelofibrosis and NDD-CKD, estimating approximately $1.1 billion in unadjusted U.S. peak sales, or about $400 million in risk-adjusted sales.
In other recent news, Disc Medicine has reported positive data from its clinical programs at the European Hematology Association annual meeting. The company highlighted long-term data from the HELIOS open-label extension study of bitopertin in erythropoietic protoporphyria (EPP), demonstrating sustained reductions in protoporphyrin IX levels and improvements in quality of life measures. Disc Medicine plans to submit a New Drug Application for bitopertin in the second half of 2025. Additionally, the company presented longer-term data from its Phase 1b trial of DISC-0974 in myelofibrosis anemia, showing durable responses among major responders. The Phase 2 RALLY-MF trial is ongoing, with initial data expected in the second half of 2025.
H.C. Wainwright has reiterated its Buy rating and $118 price target on Disc Medicine, citing positive data from the HELIOS study and highlighting bitopertin’s potential for accelerated approval. BMO Capital also reiterated its Outperform rating and $120 price target, noting the company’s consistent progress across its pipeline assets. At its Annual Meeting of Stockholders, Disc Medicine elected three Class II directors and approved executive compensation, with advisory votes on compensation to occur annually. The appointment of Ernst & Young LLP as the company’s independent registered public accounting firm was also ratified.
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