Wedbush analysts initiated coverage on Disc Medicine, Inc. (NASDAQ:IRON) with an Outperform Rating and a $30 price target.

Disc is a clinical-stage Cambridge, Massachusetts hematology-focused company developing product candidates that target biological pathways driving the formation and function of red blood cells, specifically heme biosynthesis and iron homeostasis. The company’s preclinical pipeline consists of DISC-0998 for the treatment of anemia associated with inflammatory diseases and a matriptase-2 inhibitor (TMPRSS6) for the treatment of diseases of iron overload like polycythemia vera (PV).

The analysts hold a long-term favorable view of the company given the broad potential to provide new therapies for patients with these hematologic diseases.