Shares of Disc Medicine (NASDAQ: IRON) surged 5.06% on Monday, November 5th, 2024, as the biopharmaceutical company gained traction from bullish analyst actions and its upcoming presentations at a major medical conference.
Leading the charge were Scotiabank and Morgan Stanley, which issued favorable reviews on Disc Medicine's prospects. Scotiabank reaffirmed its Buy rating on IRON stock and raised its price target to $70 from $62, citing the company's promising pipeline of potential treatments for serious hematologic diseases. Meanwhile, Morgan Stanley upgraded IRON to Overweight from Equalweight, assigning a price target of $85.
Additionally, Disc Medicine announced that it will present data from multiple programs in its hematology portfolio at the upcoming American Society of Hematology (ASH) Annual Meeting, scheduled for December 7-10, 2024, in San Diego. The company plans to provide clinical updates on its core development programs in erythropoietic protoporphyria (EPP), myelofibrosis (MF), and polycythemia vera, as well as share preclinical data supporting the potential use of its treatments in additional indications.
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