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BMO Capital reiterated its Outperform rating and $120.00 price target on Disc Medicine (NASDAQ:IRON) Tuesday, representing a potential 135% upside from the current price of $50.98. The research firm cited the company’s consistent progress across its pipeline assets. According to InvestingPro data, analyst targets range from $75 to $132, with a strong consensus recommendation of 1.27 (Buy).
BMO Capital noted that Disc Medicine is executing against the management plan previously outlined to investors. While the company maintains a strong financial position with more cash than debt and a healthy current ratio of 37.65, InvestingPro analysis indicates the company is not yet profitable. The firm highlighted that Disc’s bitopertin NDA submission for accelerated approval remains on track for the second half of 2025.
The confirmatory APOLLO study has been initiated, according to BMO Capital, with data from the HELIOS OLE study supporting the product’s longer-term benefits. Early commercial efforts are already underway for the company.
BMO Capital reported that Disc Medicine is making progress in several areas including patient identification, MSL activation, and payer engagement. These efforts align with the company’s commercialization strategy.
The research firm also pointed to earlier data for ’0974 in MF anemia and ’3405 in healthy patients, which BMO Capital believes appear supportive of Disc Medicine’s longer-term strategy.
In other recent news, Disc Medicine presented promising data from its clinical programs at the European Hematology Association’s annual meeting. The company reported sustained reductions in protoporphyrin IX levels and improvements in quality of life measures from its HELIOS study of bitopertin, a treatment for erythropoietic protoporphyria (EPP). Disc Medicine plans to submit a New Drug Application for bitopertin in the latter half of 2025. Additionally, longer-term data from the Phase 1b trial of DISC-0974 in myelofibrosis anemia showed durable responses, with 50% of non-transfusion dependent patients achieving a sustained hemoglobin increase. Meanwhile, the company’s Phase 2 trial for DISC-3405 in polycythemia vera has begun, following positive results in a Phase 1 study. In another development, H.C. Wainwright maintained its Buy rating for Disc Medicine, citing positive data from the HELIOS study and the potential for accelerated approval of bitopertin. At the company’s recent Annual Meeting of Stockholders, shareholders voted on executive pay and board members, electing three Class II directors and approving annual advisory votes on executive compensation. The appointment of Ernst & Young LLP as the company’s independent auditor for the fiscal year was also ratified.
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