Cantor Fitzgerald Issues Positive Forecast for Disc Medicine (NASDAQ:IRON) Stock Price

Disc Medicine (NASDAQ:IRON) had its price objective boosted by Cantor Fitzgerald from $99.00 to $132.00 in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on IRON. Morgan Stanley reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. TD Cowen started coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus upped their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $93.80.

Disc Medicine Stock Performance

Shares of IRON opened at $53.23 on Tuesday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -13.37 and a beta of 0.73. The company’s 50 day simple moving average is $55.40 and its 200 day simple moving average is $56.01. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $68.86.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.08. Equities analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In related news, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the sale, the insider now directly owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. This trade represents a 34.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela Stephenson sold 3,137 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,217.46. Following the sale, the insider now directly owns 69,529 shares of the company’s stock, valued at approximately $3,794,892.82. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 346,617 shares of company stock valued at $19,182,953. Corporate insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its holdings in Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after acquiring an additional 503 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Disc Medicine during the 4th quarter worth $40,000. Tower Research Capital LLC TRC grew its holdings in Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after acquiring an additional 266 shares in the last quarter. Quest Partners LLC acquired a new position in Disc Medicine during the 3rd quarter worth $131,000. Finally, Quantbot Technologies LP acquired a new position in Disc Medicine during the 3rd quarter worth $146,000. 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.