Disc Medicine (NASDAQ:IRON) Given New $75.00 Price Target at Scotiabank

Disc Medicine (NASDAQ:IRON) had its target price increased by investment analysts at Scotiabank from $73.00 to $75.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 34.92% from the stock’s current price.

IRON has been the subject of several other reports. Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, TD Cowen started coverage on shares of Disc Medicine in a report on Thursday. They set a “buy” rating on the stock. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $89.10.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded down $0.59 during mid-day trading on Monday, hitting $55.59. The company had a trading volume of 10,502 shares, compared to its average volume of 386,875. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The company has a market capitalization of $1.65 billion, a PE ratio of -13.97 and a beta of 0.73. The business’s 50-day simple moving average is $58.08 and its 200 day simple moving average is $55.65.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insider Activity at Disc Medicine

In other news, CEO John D. Quisel sold 12,791 shares of the business’s 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 owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total value of $470,625.00. Following the sale, the insider now directly owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,080 shares of company stock worth $4,523,520 in the last quarter. Company 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. FMR LLC lifted its holdings in shares of Disc Medicine by 358.7% in the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock valued at $118,320,000 after buying an additional 1,459,434 shares during the period. Wellington Management Group LLP raised its position in Disc Medicine by 4.8% in the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after acquiring an additional 83,731 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Disc Medicine by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock valued at $88,421,000 after acquiring an additional 262,690 shares during the period. Janus Henderson Group PLC boosted its position in shares of Disc Medicine by 62.4% during 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. Finally, Vanguard Group Inc. boosted its position in shares of Disc Medicine by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock worth $67,727,000 after purchasing an additional 18,716 shares in the last quarter. 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.