Disc Medicine (NASDAQ:IRON) Price Target Raised to $73.00 at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price target increased by Scotiabank from $70.00 to $73.00 in a research report sent to investors on Wednesday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research note on Tuesday. Jefferies Financial Group began coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $88.50.

Disc Medicine Price Performance

IRON stock opened at $58.50 on Wednesday. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The business has a 50 day simple moving average of $62.73 and a two-hundred day simple moving average of $53.69. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -14.70 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.15. Sell-side analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other news, CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Insiders have sold a total of 85,758 shares of company stock valued at $5,400,990 over the last ninety days. 4.24% of the stock is owned by company insiders.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Disc Medicine in the third quarter worth $131,000. Quantbot Technologies LP acquired a new stake in shares of Disc Medicine during the third quarter worth $146,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Disc Medicine during the third quarter valued at $228,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.