Disc Medicine (NASDAQ:IRON) Shares Up 5.6% Following Analyst Upgrade

Shares of Disc Medicine, Inc. (NASDAQ:IRON) shot up 5.6% during mid-day trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $79.00 to $90.00. Stifel Nicolaus currently has a buy rating on the stock. Disc Medicine traded as high as $68.35 and last traded at $68.25. 151,798 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 347,312 shares. The stock had previously closed at $64.66.

A number of other analysts also recently commented on IRON. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target for the company. Jefferies Financial Group began coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. HC Wainwright reissued a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research note on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $83.00 target price on shares of Disc Medicine in a research note on Monday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Disc Medicine presently has a consensus rating of “Buy” and a consensus target price of $87.50.

Insider Transactions at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 9,158 shares of Disc Medicine stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the transaction, the insider now directly owns 40,405 shares of the company’s stock, valued at $2,409,754.20. The trade was a 18.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Richard White sold 7,136 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. Insiders have sold a total of 32,836 shares of company stock worth $2,038,816 in the last 90 days. 4.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

Hedge funds have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. raised its stake in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares in the last quarter. Logos Global Management LP bought a new stake in Disc Medicine in the second quarter valued at about $41,690,000. Point72 Asset Management L.P. acquired a new position in Disc Medicine in the second quarter worth about $34,318,000. Deerfield Management Company L.P. Series C lifted its stake in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after purchasing an additional 357,730 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Disc Medicine by 68.2% during the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after purchasing an additional 303,954 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Performance

The firm has a 50 day moving average price of $56.26 and a two-hundred day moving average price of $49.06. The company has a market capitalization of $2.01 billion, a P/E ratio of -16.95 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released 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. On average, equities analysts expect that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

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.