Rami Katkhuda, an analyst from LifeSci Capital, maintained the Buy rating on Disc Medicine. The associated price target remains the same with $85.00.
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Rami Katkhuda’s rating is based on several promising developments surrounding Disc Medicine’s lead product, bitopertin. The company has recently submitted a New Drug Application (NDA) to the FDA for bitopertin, targeting patients with Erythropoietic Protoporphyria (EPP) aged 12 and older. This submission utilizes the accelerated approval pathway, leveraging PPIX reduction as a surrogate endpoint, which could potentially expedite the review process if priority review is granted.
Moreover, the positive results from the Phase II BEACON and AURORA studies, along with prior data from Roche, bolster confidence in bitopertin’s efficacy and safety profile. The ongoing APOLLO trial, which evaluates the safety and efficacy of bitopertin versus placebo, further supports the potential for successful outcomes. Additionally, key opinion leaders have expressed strong enthusiasm for bitopertin’s disease-modifying mechanism of action, indicating a broad uptake if approved. These factors collectively underpin the Buy rating for Disc Medicine’s stock.
In another report released on September 17, H.C. Wainwright also maintained a Buy rating on the stock with a $118.00 price target.