Disc Medicine (NASDAQ:IRON) Price Target Raised to $120.00

Disc Medicine (NASDAQ:IRON) had its price objective boosted by BMO Capital Markets from $112.00 to $120.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

IRON has been the subject of a number of other reports. Scotiabank increased their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. TD Cowen started coverage on shares of Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus raised their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Cantor Fitzgerald raised their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Finally, HC Wainwright restated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $98.80.

Disc Medicine Stock Down 1.3%

NASDAQ IRON opened at $45.73 on Monday. The company has a 50-day simple moving average of $46.34 and a two-hundred day simple moving average of $54.86. Disc Medicine has a 12-month low of $30.65 and a 12-month high of $68.73. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -11.49 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Equities analysts expect that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00. Following the completion of the transaction, the insider now owns 66,398 shares of the company’s stock, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mona Ashiya sold 202,146 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the transaction, the director now directly owns 208,742 shares of the company’s stock, valued at $11,332,603.18. This represents a 49.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,290 shares of company stock valued at $19,336,901. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in IRON. Rafferty Asset Management LLC increased its position in shares of Disc Medicine by 22.7% during the first quarter. Rafferty Asset Management LLC now owns 34,041 shares of the company’s stock valued at $1,690,000 after acquiring an additional 6,292 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of Disc Medicine by 14.0% during the first quarter. Corebridge Financial Inc. now owns 11,180 shares of the company’s stock valued at $555,000 after acquiring an additional 1,371 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Disc Medicine by 10.9% during the first quarter. MetLife Investment Management LLC now owns 13,454 shares of the company’s stock valued at $668,000 after acquiring an additional 1,322 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Disc Medicine by 189,025.0% during the first quarter. Quantbot Technologies LP now owns 7,565 shares of the company’s stock valued at $376,000 after acquiring an additional 7,561 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Disc Medicine by 67.9% during the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock valued at $116,331,000 after acquiring an additional 948,094 shares in the last quarter. 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.