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Investing.com - Jefferies maintained its Buy rating and $127.00 price target on Disc Medicine (NASDAQ:IRON) as the company approaches two significant near-term catalysts expected by late 2025 and early 2026. Currently trading at $90.74, IRON is showing strong momentum with a 45% return over the past year and is trading near its 52-week high of $95.95. According to InvestingPro data, analysts have set targets ranging from $91 to $153 for the stock.
The firm highlighted Disc Medicine’s continued strong performance and anticipated momentum through year-end 2025 and into the first half of 2026, driven primarily by the upcoming Bito approval decision for erythropoietic protoporphyria (EPP) and potential launch in late 2025 or early 2026.
Jefferies noted that Disc Medicine’s receipt of the Confirmed Pediatric Investigation Plan Verification (CNPV) underscores the strong unmet need in EPP, supporting a robust commercial opportunity in what it describes as a "sizable rare disease." Despite potential challenges with the accelerated timeline, the firm believes Disc Medicine’s strong relationships with EPP key opinion leaders and centers of excellence position Bito for a successful launch. InvestingPro data shows IRON holds more cash than debt on its balance sheet with a healthy current ratio of 23.45, providing financial flexibility for the upcoming product launch.
The research firm also pointed to upcoming Phase 2 interim data for DISC-0974 in anemia of myelofibrosis (MF) at ASH 2025 as a key catalyst. Jefferies views recent data in non-dialysis dependent chronic kidney disease (NDD-CKD) as supportive of the drug’s mechanism in treating anemia.
With the recent failure of luspatercept and DISC-0974 addressing anemia on top of momelotinib, Jefferies believes DISC-0974 could become a new standard of care adjunct treatment for anemia of myelofibrosis, potentially setting the foundation for Phase 3 regulatory discussions in 2026.
In other recent news, Disc Medicine has been active with several significant developments. The company announced the pricing of an upsized public offering valued at approximately $250 million, selling shares and pre-funded warrants to support its initiatives. This follows the launch of a $220 million stock offering aimed at funding the commercialization of its drug bitopertin, research, and development of other products, and working capital needs. Additionally, Disc Medicine submitted a New Drug Application for bitopertin in erythropoietic protoporphyria, receiving a priority review that could expedite its approval by late 2025 or early 2026.
Raymond James reiterated its Strong Buy rating for Disc Medicine, highlighting the potential of DISC-0974 as a future growth driver, with projected sales in myelofibrosis anemia reaching approximately $400 million by 2035. The company is preparing to present initial data from its RALLY-MF Phase 2 trial of DISC-0974 at the upcoming American Society of Hematology Annual Meeting. This trial evaluates DISC-0974 as a monotherapy and in combination with JAK inhibitors. These recent activities underscore Disc Medicine’s ongoing efforts in advancing its pipeline and securing financial resources for future growth.
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