Disc Medicine (NASDAQ:IRON) Price Target Raised to $132.00

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

A number of other equities research analysts have also recently weighed in on IRON. Stifel Nicolaus boosted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Scotiabank boosted their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley reissued an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Friday, March 7th. Finally, TD Cowen started coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and a consensus price target of $93.80.

Disc Medicine Trading Down 0.9 %

Disc Medicine stock opened at $53.23 on Tuesday. The company has a fifty day simple moving average of $55.40 and a 200-day simple moving average of $56.01. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $68.86. The stock has a market cap of $1.84 billion, a P/E ratio of -13.37 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. As a group, sell-side analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mona Ashiya sold 83,182 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $54.45, for a total transaction of $4,529,259.90. Following the completion of the transaction, the director now directly owns 194,209 shares of the company’s stock, valued at $10,574,680.05. This represents a 29.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John D. Quisel sold 19,820 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,550,184.10. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 346,617 shares of company stock valued at $19,182,953 over the last ninety days. Corporate insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after buying an additional 266 shares during the period. Teacher Retirement System of Texas grew its position in Disc Medicine by 8.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock worth $308,000 after buying an additional 396 shares during the period. Sterling Capital Management LLC grew its position in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after buying an additional 593 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in Disc Medicine during the fourth quarter worth about $40,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.