Disc Medicine (IRON) PT Raised to $170 at Cantor Fitzgerald on Ph3 Results for Bitopertin

Cantor Fitzgerald analyst Kristen Kluska raised the price target on Disc Medicine (NASDAQ: IRON) to $170.00 (from $125.00) while maintaining an Overweight rating.

The analyst commented, "Disc Medicine announced the highly anticipated Phase 3 results from APOLLO for bitopertin (oral GlyT1 inhibitor) in EPP/XLP (severe photosensitivity condition). IRON is a Top Pick...We strongly believe the data, which show benefits in both a key surrogate marker and clinical outcome measures, will support a traditional approval, as recall the company aligned with the FDA during a Type A meeting this year (that if APOLLO was successful, could serve as a basis for a CRL response). Disc Medicine plans to resubmit the NDA before YE."

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