Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $93.80

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $93.80.

A number of equities analysts have recently issued reports on IRON shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus upped their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald lifted their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th.

Disc Medicine Price Performance

IRON opened at $53.70 on Thursday. The firm has a market capitalization of $1.86 billion, a PE ratio of -13.49 and a beta of 0.73. The business’s 50-day moving average is $55.16 and its two-hundred day moving average is $56.13. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. As a group, sell-side analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insiders Place Their Bets

In related news, insider Pamela Stephenson sold 3,137 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the completion of the transaction, the insider now directly owns 69,529 shares in the company, valued at approximately $3,794,892.82. This trade represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 10,011 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $54.00, for a total value of $540,594.00. Following the completion of the transaction, the director now directly owns 187,297 shares of the company’s stock, valued at $10,114,038. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,464 shares of company stock valued at $20,614,329. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in IRON. FMR LLC boosted its position in Disc Medicine by 358.7% during the fourth 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. Wellington Management Group LLP raised its stake in shares of Disc Medicine by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after buying 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% during 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 buying an additional 262,690 shares during the period. Janus Henderson Group PLC grew its stake 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 valued at $77,170,000 after acquiring an additional 467,988 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Disc Medicine by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock worth $67,727,000 after acquiring 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.