Disc Medicine (NASDAQ:IRON) Price Target Raised to $94.00

Disc Medicine (NASDAQ:IRON) had its price objective lifted by Stifel Nicolaus from $90.00 to $94.00 in a research note published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also weighed in on IRON. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price 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 price target on the stock. Wedbush reissued an “outperform” rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Scotiabank increased their price target on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, January 22nd. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and a consensus price target of $88.90.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $57.45 on Friday. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The business has a 50-day simple moving average of $62.62 and a two-hundred day simple moving average of $53.89. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -14.43 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, research analysts predict that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, insider William Jacob Savage sold 9,158 shares of the 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 represents a 18.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John D. Quisel sold 12,791 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its holdings in Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after buying an additional 593 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Disc Medicine by 66.0% during the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock worth $512,000 after purchasing an additional 3,212 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Disc Medicine by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock worth $799,000 after purchasing an additional 2,257 shares during the last quarter. Exome Asset Management LLC boosted its holdings in shares of Disc Medicine by 5.8% during the third quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock worth $3,170,000 after purchasing an additional 3,516 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Disc Medicine by 38.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company’s stock worth $961,000 after purchasing an additional 5,458 shares during the last quarter. Institutional investors and hedge funds 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.