Cantor Fitzgerald reiterates Disc Medicine stock rating on pipeline catalysts

Cantor Fitzgerald reiterates Disc Medicine stock rating on pipeline catalysts

U.S. futures hold on to gains after data shows producer prices cooled in June Investing.com - Cantor Fitzgerald reiterated an Overweight rating and $125 price target on Disc Medicine (NASDAQ:IRON) shares Wednesday. The stock currently trades at $75.01, up 33% over the past year, though it remains about 25% below its 52-week high of $99.50. According to InvestingPro analysis, the company holds more cash than debt on its balance sheet—a critical strength for a clinical-stage biotech.

The firm highlighted upcoming catalysts for the biotechnology company, with Phase 3 data for bitopertin expected in the fourth quarter of 2026. Bitopertin is an oral GlyT1 inhibitor being developed for EPP and XLP, which are painful photosensitivity conditions. Disc Medicine is also expected to release additional Phase 2 RALLY-MF data from selcodebart in myelofibrosis anemia.

The company plans to report initial Phase 2 data in polycythemia vera and Phase 1b data in sickle cell disease for DISC-3405, an anti-TMPRSS6 antibody. Cantor Fitzgerald stated it is bullish on bitopertin succeeding in the Phase 3 study. The firm said it plans to discuss key debates about past data and trial design with management.

The firm also said it intends to focus on the opportunity for myelofibrosis anemia treatment and give attention to DISC-3405, which it described as an undervalued part of the company’s pipeline. InvestingPro subscribers have access to 8 additional exclusive tips and comprehensive financial metrics for IRON. In other recent news, Disc Medicine Inc. has presented updated clinical trial data for two investigational treatments at the European Hematology Association Annual Meeting in Stockholm.

The RALLY-MF trial of DISC-0974, which enrolled 61 adult patients with myelofibrosis and anemia, showed promising results, with 50 patients included in the responder analysis. Additionally, Disc Medicine completed a Type A meeting with the U.S. Food and Drug Administration regarding the Complete Response Letter for bitopertin in erythropoietic protoporphyria. The FDA agreed that the ongoing Phase 3 APOLLO study could potentially support a traditional approval if successful.

Moreover, Disc Medicine has launched an expanded access program for bitopertin, allowing eligible patients with erythropoietic protoporphyria and X-linked protoporphyria in the U.S. to access the investigational treatment prior to regulatory approval. Stifel has reiterated a Buy rating and a $111.00 price target on Disc Medicine following the presentation of Phase 2 RALLY-MF trial data at the ASCO meeting, highlighting the drug’s efficacy regardless of baseline anemia severity. Lastly, Disc Medicine announced plans to present data from its RALLY-MF Phase 2 trial at the upcoming American Society of Clinical Oncology Annual Meeting in Chicago.

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