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In a recent transaction reported to the Securities and Exchange Commission, Rahul Khara, the Chief Legal Officer of Disc Medicine, Inc. (NASDAQ:IRON), executed a series of stock sales amounting to approximately $470,657. The clinical-stage biopharmaceutical company, currently valued at $1.8 billion, has received strong analyst support with a consensus "Strong Buy" rating and a price target range of $70-$118. The sales occurred on January 2, 2025, and involved a total of 7,500 shares of common stock sold at prices ranging from $61.9599 to $64.1347 per share.
Additionally, Khara exercised stock options for 7,500 shares at a price of $14.69 each, valued at $110,175. Following these transactions, Khara holds 14,035 shares of Disc Medicine's common stock. These transactions were conducted under a pre-established Rule 10b5-1 trading plan.
In other recent news, Disc Medicine has been the subject of several analyst updates and significant clinical developments. Jefferies maintained a Buy rating for Disc Medicine with a price target of $111, based on anticipated positive data from an upcoming presentation of DISC-0974™. H.C. Wainwright also reiterated a Buy rating, increasing the price target to $118 from $70, following promising developments involving Disc Medicine's drug candidates. Similarly, Scotiabank (TSX:BNS) increased its price target for Disc Medicine to $70 while retaining a Sector Outperform rating, following positive feedback from the FDA regarding its phase 3 trial for bitopertin.
BMO Capital Markets increased the price target for Disc Medicine's shares to $112, maintaining an Outperform rating, after a positive regulatory update for bitopertin. Raymond (NS:RYMD) James also revised its stance on Disc Medicine's stock, upgrading it from Outperform to Strong Buy, and set a new price target of $110.00.
Disc Medicine reported promising results from a Phase 1b study of DISC-0974, showing significant reduction in hepcidin levels and improvement in iron mobilization and hemoglobin levels in patients with non-dialysis-dependent chronic kidney disease and anemia. The company also announced a public stock offering of approximately $178 million to advance research and clinical development of its product candidates.
On the personnel front, Disc Medicine welcomed Dr. Rahul Rajan Kaushik as Chief Technical Officer and Dr. Steve Caffé as Chief Regulatory Officer, both with over two decades of experience in the pharmaceutical industry. These recent developments underscore Disc Medicine's continuous efforts to advance its clinical trials and operations.
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