Disc Medicine price target raised to $80 from $70 at BMO Capital

BMO Capital raised the firm’s price target on Disc Medicine to $80 from $70 and keeps an Outperform rating on the shares. The placebo-controlled AURORA trial of Bitopertin is most likely to see at least a “Modestly Positive” outcome where Bitopertin demonstrates PPIX, or protoporphyrin IX, reduction of 30%-40% with improvements in time in light tolerance of over 100%, the analyst tells investors in a research note. In such a scenario, Bitopertin is likely to be approved and used as new standard of care, BMO added.