Disc Medicine (NASDAQ:IRON) Given New $73.00 Price Target at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price target increased by Scotiabank from $70.00 to $73.00 in a report published on Wednesday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other brokerages have also recently weighed in on IRON. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday. Wedbush reissued an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research report on Tuesday. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Stifel Nicolaus raised their price target on Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine presently has a consensus rating of “Buy” and an average target price of $88.90.

Disc Medicine Trading Up 0.8 %

Shares of Disc Medicine stock opened at $57.45 on Wednesday. The company has a fifty day simple moving average of $62.62 and a 200-day simple moving average of $53.79. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -14.43 and a beta of 0.75. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the sale, the insider now directly owns 14,035 shares in the company, valued at approximately $880,696.25. This represents a 34.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,758 shares of company stock valued at $5,400,990 over the last ninety days. Corporate insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IRON. Geode Capital Management LLC grew its holdings in shares of Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after acquiring an additional 70,983 shares during the period. State Street Corp boosted its position in Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Disc Medicine in the second quarter valued at $34,318,000. Verition Fund Management LLC purchased a new position in shares of Disc Medicine in the third quarter valued at $589,000. Finally, Frazier Life Sciences Management L.P. raised its stake in shares of Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares during 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.