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

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by investment analysts at Stifel Nicolaus from $90.00 to $94.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 64.91% from the stock’s current price.

Other analysts have also issued research reports about the company. Scotiabank increased their price target on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $88.90.

Disc Medicine Stock Up 0.0 %

NASDAQ IRON traded up $0.01 during trading hours on Friday, reaching $57.00. The company’s stock had a trading volume of 65,704 shares, compared to its average volume of 468,005. The firm’s 50-day moving average price is $62.66 and its 200-day moving average price is $53.72. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -14.34 and a beta of 0.75.

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

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of the firm’s 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 through this hyperlink. Also, CEO John D. Quisel sold 12,791 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,758 shares of company stock worth $5,400,990. 4.24% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Disc Medicine by 4.8% in the third 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 during the last quarter. Frazier Life Sciences Management L.P. raised its position in Disc Medicine by 123.5% in 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 purchasing an additional 969,834 shares during the period. State Street Corp raised its holdings in shares of Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after buying an additional 235,115 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Disc Medicine in the 2nd quarter valued at $34,318,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Disc Medicine by 68.2% in the 3rd quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after buying an additional 303,954 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

About Disc Medicine

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.