Analysts Set Disc Medicine, Inc. (NASDAQ:IRON) Target Price at $85.80

Disc Medicine, Inc. (NASDAQ:IRON) has earned an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $87.50.

Several brokerages recently issued reports on IRON. Jefferies Financial Group started coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Stifel Nicolaus upped their target price on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Scotiabank raised their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised 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. Finally, HC Wainwright reiterated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Monday, December 9th.

Insider Activity

In other news, Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Jacob Savage sold 14,183 shares of Disc Medicine stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the transaction, the insider now directly owns 40,405 shares in the company, valued at approximately $2,644,507.25. This represents a 25.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,836 shares of company stock worth $2,038,816. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in Disc Medicine in the 2nd quarter worth about $34,318,000. Verition Fund Management LLC bought a new position in shares of Disc Medicine in the third quarter valued at approximately $589,000. Frazier Life Sciences Management L.P. increased its position in shares of 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 valued at $79,090,000 after acquiring an additional 969,834 shares during the last quarter. Blue Owl Capital Holdings LP increased its position in shares of Disc Medicine by 38.6% during the second quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock valued at $9,702,000 after acquiring an additional 60,000 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after acquiring an additional 357,730 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

IRON opened at $66.18 on Tuesday. The stock has a fifty day moving average of $57.51 and a 200-day moving average of $49.93. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The company has a market capitalization of $1.97 billion, a P/E ratio of -16.63 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, equities research analysts predict that Disc Medicine will post -4.05 earnings per share for the current fiscal year.

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.