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Jonathan Yen-Wen Yu, the Chief Operating Officer of Disc Medicine, Inc. (NASDAQ:IRON), a $1.83 billion market cap biotechnology company, recently executed a stock sale valued at $87,873. According to InvestingPro data, the company maintains a GOOD financial health score, with analysts setting price targets between $73 and $118. The transaction, which took place on February 18, involved the sale of 1,610 shares of common stock at a price of $54.58 per share. This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units granted previously. After the transaction, Yu holds 40,555 shares of Disc Medicine. InvestingPro analysis reveals the stock has shown strong returns over the past five years, though price movements remain volatile. Discover more insights with InvestingPro’s comprehensive research report, covering what matters most about IRON’s financial performance and outlook.
In other recent news, Disc Medicine has been the subject of notable developments. Stifel analysts have raised their price target for Disc Medicine shares to $94, maintaining a Buy rating. This adjustment follows the company’s receipt of authorization to submit a new drug application for bitopertin, aimed at treating erythropoietic protoporphyria (EPP), with a potential commercial launch anticipated in 2026. Analysts at Stifel expressed confidence in the drug’s approval prospects, estimating an 85% chance of success. Additionally, Jefferies has maintained its Buy rating for Disc Medicine with a price target of $111, based on expected positive data from an upcoming presentation of DISC-0974™.
The presentation, scheduled for December 8, 2024, at the American Society of Hematology, will showcase comprehensive six-month data, highlighting efficacy and safety results. The anticipated data could position DISC-0974™ favorably against competitors, with few adverse events reported. Following this presentation, Disc Medicine plans to detail its Phase 2 trial design during an investor event, with the trial set to begin by the end of 2024. These updates reflect a steady investment perspective from analysts, reinforcing confidence in the company’s clinical progress and potential market impact.
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