Disc Medicine (NASDAQ:IRON) Price Target Raised to $132.00

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by stock analysts at Cantor Fitzgerald from $99.00 to $132.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 157.46% from the stock’s current price.

IRON has been the topic of a number of other reports. Morgan Stanley restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. TD Cowen started coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating on the stock. Wedbush restated an “outperform” rating and issued a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Stifel Nicolaus upped their price target 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $93.80.

Disc Medicine Trading Up 0.5 %

Shares of NASDAQ:IRON opened at $51.27 on Tuesday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -12.88 and a beta of 0.73. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $68.86. The firm’s 50-day moving average is $55.95 and its 200 day moving average is $56.03.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, equities analysts forecast that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mona Ashiya sold 83,182 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $54.45, for a total transaction of $4,529,259.90. Following the transaction, the director now directly owns 194,209 shares in the company, valued at approximately $10,574,680.05. The trade was a 29.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the transaction, the insider now owns 14,035 shares in the company, valued at $880,696.25. The trade was a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 346,617 shares of company stock worth $19,182,953. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its holdings in 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 purchasing an additional 1,459,434 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Disc Medicine by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after acquiring an additional 83,731 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of 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 valued at $88,421,000 after acquiring an additional 262,690 shares during the period. Janus Henderson Group PLC raised its stake in shares of Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after acquiring an additional 467,988 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Disc Medicine by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock valued at $67,727,000 after acquiring an additional 18,716 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.