Disc Medicine (NASDAQ:IRON) Given New $70.00 Price Target at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by Scotiabank from $62.00 to $70.00 in a research note released on Tuesday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group assumed coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $66.00 to $110.00 in a research report on Monday. Wells Fargo & Company initiated coverage on Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research report on Tuesday. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $80.20.

Disc Medicine Price Performance

Shares of IRON stock opened at $64.78 on Tuesday. The business’s fifty day moving average price is $48.75 and its 200 day moving average price is $42.93. The firm has a market capitalization of $1.93 billion, a PE ratio of -17.65 and a beta of 0.60. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. Equities research analysts expect that Disc Medicine will post -4.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 7,538 shares of company stock valued at $437,875 over the last 90 days. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IRON. Amalgamated Bank increased its position in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after buying an additional 337 shares during the period. SG Americas Securities LLC raised its position in shares of Disc Medicine by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after buying an additional 793 shares during the period. Bleakley Financial Group LLC boosted its holdings in Disc Medicine by 23.0% in the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after acquiring an additional 856 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in Disc Medicine by 3.7% during the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after acquiring an additional 1,468 shares during the last quarter. 83.70% of the stock is currently 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.