HC Wainwright Raises Disc Medicine (NASDAQ:IRON) Price Target to $118.00

Disc Medicine (NASDAQ:IRON) had its price target lifted by analysts at HC Wainwright from $70.00 to $118.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 94.49% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Scotiabank upped their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Jefferies Financial Group started coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $85.80.

Disc Medicine Stock Performance

IRON stock opened at $60.67 on Wednesday. The firm has a fifty day moving average price of $51.02 and a 200 day moving average price of $44.75. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm has a market cap of $1.80 billion, a PE ratio of -15.24 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) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. On average, equities analysts predict that Disc Medicine will post -4.15 EPS for the current year.

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 7,538 shares of company stock valued at $437,875 over the last quarter. 4.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. raised its stake in shares of Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares in the last quarter. Logos Global Management LP purchased a new position in Disc Medicine during the 2nd quarter worth $41,690,000. Point72 Asset Management L.P. purchased a new position in Disc Medicine during the 2nd quarter worth $34,318,000. Deerfield Management Company L.P. Series C increased its position in Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after buying an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after purchasing an additional 353,382 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors.

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.