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

Disc Medicine, Inc. (NASDAQ:IRON) has been given a consensus recommendation of “Buy” by the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $85.80.

A number of research firms recently weighed in on IRON. Scotiabank increased their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. 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. Jefferies Financial Group assumed coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $83.00 price target (up previously from $75.00) on shares of Disc Medicine in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company.

Disc Medicine Stock Up 1.5 %

Shares of IRON stock opened at $63.51 on Friday. The business has a fifty day simple moving average of $52.10 and a 200 day simple moving average of $45.85. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The company has a market cap of $1.89 billion, a P/E ratio of -15.96 and a beta of 0.60.

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 analysts’ consensus estimates of ($1.04) by $0.15. As a group, equities research analysts anticipate that Disc Medicine will post -4.05 earnings per share 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 business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the transaction, the insider now directly owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. This trade represents a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,696 shares of company stock valued at $984,058. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new position in Disc Medicine in the 1st quarter worth about $7,429,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after purchasing an additional 353,382 shares during the period. Point72 Asset Management L.P. purchased a new stake in Disc Medicine during the 2nd quarter valued at $34,318,000. Frazier Life Sciences Management L.P. increased its position in shares of 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 acquiring an additional 969,834 shares during the period. Finally, Blue Owl Capital Holdings LP boosted its holdings 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 worth $9,702,000 after purchasing an additional 60,000 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.