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Investing.com - Wells Fargo has reiterated its Overweight rating on Disc Medicine (NASDAQ:IRON) with a price target of $91.00. The biopharmaceutical company, currently valued at $3.13 billion, has seen its stock surge nearly 25% in the past week, trading close to its 52-week high of $95.95.
The rating confirmation was issued by Wells Fargo analyst Derek Archila, who maintained both the positive outlook and the existing price target for the biopharmaceutical company. According to InvestingPro data, analysts maintain a Strong Buy consensus on the stock, though current prices suggest the stock may be trading above its Fair Value.
Disc Medicine focuses on developing treatments for serious hematologic diseases, including disorders affecting red blood cell formation and iron metabolism.
The $91.00 price target suggests significant upside potential from the stock’s current trading levels.
Wells Fargo’s continued Overweight rating indicates the firm believes Disc Medicine shares should outperform the sector average over the coming months.
In other recent news, Disc Medicine has been named one of the initial recipients of the FDA Commissioner’s National Priority Review Voucher (CNPV), which could significantly expedite the approval timeline for its drug bitopertin. This voucher aims to address major national priorities and allows for an approval decision within one to two months after a complete application is filed. Furthermore, Disc Medicine will present updated clinical data from its Phase 1b study of DISC-0974 at the 2025 American Society of Nephrology Kidney Week. The presentation will cover safety and tolerability data, pharmacokinetics, and pharmacodynamic markers in patients with non-dialysis-dependent chronic kidney disease and anemia.
In response to these developments, Cantor Fitzgerald raised its price target for Disc Medicine to $153, maintaining an Overweight rating. The increase follows the company’s receipt of the FDA voucher for bitopertin in treating erythropoietic protoporphyria. Additionally, H.C. Wainwright reiterated its Buy rating and $118 price target on Disc Medicine, citing the FDA voucher’s impact on reducing the review time. These recent developments highlight Disc Medicine’s progress in drug development and regulatory milestones.
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