Disc Medicine (NASDAQ:IRON) Price Target Raised to $94.00

Disc Medicine (NASDAQ:IRON) had its target price lifted by Stifel Nicolaus from $90.00 to $94.00 in a report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other analysts have also commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Wedbush reiterated an “outperform” rating and set a $90.00 price target (up from $83.00) on shares of Disc Medicine in a report on Tuesday. Scotiabank boosted their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $88.90.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $57.45 on Friday. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The business has a fifty day moving average of $62.62 and a two-hundred day moving average of $53.79.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity

In related news, Director William Richard White sold 1,957 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,758 shares of company stock worth $5,400,990. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

A number of hedge funds and other institutional investors have recently bought and sold shares of IRON. Wellington Management Group LLP boosted its position in shares of Disc Medicine by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after acquiring an additional 83,731 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its stake in Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after purchasing an additional 969,834 shares during the last quarter. State Street Corp boosted its holdings in Disc Medicine by 39.7% in the third quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Disc Medicine in the second quarter valued at approximately $34,318,000. Finally, Janus Henderson Group PLC raised its holdings in Disc Medicine by 68.2% during the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after purchasing an additional 303,954 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.