Disc Medicine (NASDAQ:IRON) Price Target Raised to $109.00

Disc Medicine (NASDAQ:IRON) had its target price upped by Wells Fargo & Company from $91.00 to $109.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently issued reports on the company. Truist Financial upped their price target on Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Raymond James Financial restated a “strong-buy” rating and issued a $117.00 target price on shares of Disc Medicine in a report on Monday, December 8th. Cantor Fitzgerald upped their target price on Disc Medicine from $132.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Wedbush lifted their price target on shares of Disc Medicine from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, National Bankshares set a $153.00 price objective on shares of Disc Medicine in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Disc Medicine currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Disc Medicine Stock Performance

Shares of IRON opened at $90.44 on Tuesday. The company’s fifty day moving average is $87.72 and its 200-day moving average is $68.51. Disc Medicine has a 12 month low of $30.82 and a 12 month high of $99.50. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -16.90 and a beta of 0.87. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.29). Equities analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Jacob Savage sold 13,093 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $91.22, for a total value of $1,194,343.46. Following the completion of the sale, the insider directly owned 75,702 shares of the company’s stock, valued at approximately $6,905,536.44. This represents a 14.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Bitterman sold 71,961 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $70.58, for a total transaction of $5,079,007.38. Following the transaction, the director directly owned 500,621 shares in the company, valued at $35,333,830.18. This trade represents a 12.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 451,555 shares of company stock valued at $38,742,458 in the last three months. 3.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Disc Medicine in the third quarter valued at about $38,000. CWM LLC raised its holdings in Disc Medicine by 213.5% in the 2nd quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $55,000 after acquiring an additional 711 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Disc Medicine in the 2nd quarter worth approximately $57,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Disc Medicine by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock worth $71,000 after purchasing an additional 181 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Disc Medicine by 8.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company’s stock worth $133,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds 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.