Disc Medicine (NASDAQ:IRON) Price Target Raised to $73.00 at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price target lifted by equities research analysts at Scotiabank from $70.00 to $73.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 20.62% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Jefferies Financial Group began coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research note on Tuesday. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $88.50.

Disc Medicine Stock Up 3.9 %

Shares of IRON stock opened at $60.52 on Wednesday. The stock has a market cap of $1.80 billion, a P/E ratio of -15.21 and a beta of 0.75. The company’s fifty day simple moving average is $62.82 and its two-hundred day simple moving average is $53.66. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 1,957 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction on Thursday, January 2nd. The shares were 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 trade represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,758 shares of company stock worth $5,400,990. 4.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its stake in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares in 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 acquiring an additional 337 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Disc Medicine by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after purchasing an additional 771 shares during the last quarter. SG Americas Securities LLC grew its stake in Disc Medicine by 19.5% in the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after purchasing an additional 793 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Disc Medicine by 18.0% in the third quarter. MetLife Investment Management LLC now owns 11,377 shares of the company’s stock worth $559,000 after purchasing an additional 1,735 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.