By Josh Beckerman
Disc Medicine shares added to Friday’s gains, rising 8% to $49.20 on Monday as more analysts raised price targets following news of favorable preliminary results from a bitopertin clinical trial.
The stock reached a 52-week high of $54.95. Its 52-week low was $11.80 on Dec. 28.
On Friday, the company reported preliminary results from a Phase 2 trial of bitopertin in patients with erythropoietic protoporphyria and X-linked protoporphyria, rare diseases that result in severe reactions from exposure to sunlight. Shares rose 16% Friday.
Raymond James raised Disc to strong buy from outperform and increased its price target to $75 from $50. Morgan Stanley maintained its overweight rating and raised its target to $56 from $37.
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