Disc Medicine (NASDAQ:IRON) Price Target Raised to $79.00

Disc Medicine (NASDAQ:IRON) had its target price hoisted by Wells Fargo & Company from $78.00 to $79.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 19.65% from the stock’s current price.

IRON has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Disc Medicine in a research note on Friday, December 19th. Raymond James Financial restated a “market perform” rating on shares of Disc Medicine in a report on Thursday, January 15th. Cantor Fitzgerald decreased their target price on shares of Disc Medicine from $153.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Finally, Stifel Nicolaus cut their price target on shares of Disc Medicine from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $102.09.

Disc Medicine Trading Down 0.9%

Shares of NASDAQ:IRON traded down $0.60 during midday trading on Monday, reaching $66.03. The company had a trading volume of 79,199 shares, compared to its average volume of 744,816. The company has a fifty day simple moving average of $74.43 and a two-hundred day simple moving average of $75.62. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -11.05 and a beta of 0.87. Disc Medicine has a 1-year low of $30.82 and a 1-year high of $99.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.45 and a current ratio of 23.45.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, topping the consensus estimate of ($1.69) by $0.07. The firm had revenue of ($19.88) million for the quarter, compared to analysts’ expectations of $0.15 million. Research analysts predict that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Rahul Khara sold 2,853 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total transaction of $179,339.58. Following the sale, the insider owned 52,173 shares of the company’s stock, valued at approximately $3,279,594.78. This trade represents a 5.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 3,231 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total transaction of $203,100.66. Following the transaction, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at $3,414,806.64. The trade was a 5.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 285,114 shares of company stock worth $24,937,862. 3.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

Large investors have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd bought a new stake in shares of Disc Medicine during the fourth quarter worth approximately $33,000. Aster Capital Management DIFC Ltd bought a new position in shares of Disc Medicine in the 3rd quarter worth $38,000. CWM LLC grew its stake in shares of Disc Medicine by 213.5% during the second quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $55,000 after purchasing an additional 711 shares during the period. KBC Group NV bought a new stake in Disc Medicine in the fourth quarter valued at about $80,000. Finally, Avanza Fonder AB increased its holdings in Disc Medicine by 54.0% in the third quarter. Avanza Fonder AB now owns 1,668 shares of the company’s stock valued at $110,000 after purchasing an additional 585 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.