Disc Medicine (NASDAQ:IRON) Price Target Raised to $90.00

Disc Medicine (NASDAQ:IRON) had its target price upped by investment analysts at Stifel Nicolaus from $79.00 to $90.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 36.80% from the company’s current price.

Several other equities analysts have also recently issued reports on IRON. Scotiabank raised their price objective on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and set a $83.00 target price on shares of Disc Medicine in a report on Monday. HC Wainwright restated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Monday. Finally, Wells Fargo & Company assumed coverage on Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $87.50.

Disc Medicine Trading Up 1.7 %

NASDAQ IRON traded up $1.13 during mid-day trading on Tuesday, reaching $65.79. 55,548 shares of the company’s stock traded hands, compared to its average volume of 346,932. The company has a fifty day simple moving average of $55.96 and a 200-day simple moving average of $48.83. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -16.53 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last announced 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. Equities research analysts forecast that Disc Medicine will post -4.05 earnings per share for the current fiscal year.

Insider Activity

In other Disc Medicine news, insider William Jacob Savage sold 14,183 shares of the company’s 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 sale, the insider now directly owns 40,405 shares in the company, valued at $2,644,507.25. This represents a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction on 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. Over the last ninety days, insiders have sold 32,836 shares of company stock valued at $2,038,816. Company insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Institutional investors have recently modified their holdings of the company. Amalgamated Bank raised its position 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. raised its holdings in shares of Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Disc Medicine during the second quarter valued at approximately $129,000. Quest Partners LLC bought a new stake in Disc Medicine during the third quarter worth approximately $131,000. Finally, Quantbot Technologies LP acquired a new position in Disc Medicine in the third quarter worth approximately $146,000. Institutional investors and hedge funds 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.