Disc Medicine (NASDAQ:IRON) Price Target Raised to $75.00 at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price target raised by Scotiabank from $73.00 to $75.00 in a report published on Monday,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other research firms have also issued reports on IRON. TD Cowen started coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating on the stock. HC Wainwright restated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Tuesday, November 5th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Stifel Nicolaus lifted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $89.10.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $54.33 on Monday. The firm has a market cap of $1.62 billion, a PE ratio of -13.65 and a beta of 0.73. The firm’s fifty day moving average is $57.89 and its 200-day moving average is $55.70. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.08. Sell-side analysts forecast that Disc Medicine will post -4.07 EPS for the current year.

Insider Transactions at Disc Medicine

In other news, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the sale, the insider now directly owns 14,035 shares of the company’s stock, valued at $880,696.25. The trade was a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John D. Quisel sold 5,574 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $304,228.92. Following the completion of the sale, the chief executive officer now directly owns 154,828 shares of the company’s stock, valued at $8,450,512.24. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,080 shares of company stock valued at $4,523,520 over the last three months. Corporate insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently added to or reduced their stakes in IRON. FMR LLC grew its position in Disc Medicine by 358.7% in the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after purchasing an additional 1,459,434 shares in the last quarter. Janus Henderson Group PLC grew its position in Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after purchasing an additional 467,988 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after purchasing an additional 262,690 shares in the last quarter. State Street Corp grew its position in Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Disc Medicine in the 4th quarter worth about $5,579,000. 83.70% of the stock is owned by 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.