Disc Medicine (NASDAQ:IRON) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Disc Medicine (NASDAQ:IRON) had its price target increased by equities research analysts at Wells Fargo & Company from $91.00 to $109.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.36% from the company’s current price.

A number of other brokerages have also recently commented on IRON. Stifel Nicolaus began coverage on shares of Disc Medicine in a research note on Monday, November 3rd. They set a “buy” rating and a $125.00 price target on the stock. Morgan Stanley boosted their target price on shares of Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Wedbush increased their target price on Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Truist Financial lifted their price target on Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Moderate Buy” and an average price target of $119.00.

Disc Medicine Stock Performance

Shares of IRON stock traded down $1.44 on Tuesday, hitting $90.57. 213,644 shares of the stock were exchanged, compared to its average volume of 425,178. The firm’s 50 day moving average is $86.52 and its two-hundred day moving average is $67.90. Disc Medicine has a one year low of $30.82 and a one year high of $99.50. The firm has a market capitalization of $3.42 billion, a PE ratio of -16.96 and a beta of 0.86. The company has a current ratio of 23.45, a quick ratio of 23.45 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling

In related news, Director Kevin Bitterman sold 71,961 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly owned 500,621 shares in the company, valued at $35,333,830.18. The trade was a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total value of $2,541,000.00. Following the completion of the sale, the chief operating officer directly owned 40,555 shares in the company, valued at approximately $3,435,008.50. The trade was a 42.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 253,585 shares of company stock worth $20,620,513 over the last ninety days. 3.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently bought and sold shares of IRON. RA Capital Management L.P. purchased a new stake in shares of Disc Medicine during the 1st quarter valued at $78,288,000. Siren L.L.C. bought a new position in Disc Medicine in the first quarter valued at $53,207,000. Wellington Management Group LLP increased its stake in Disc Medicine by 67.9% in 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 during the last quarter. Vestal Point Capital LP raised its position in Disc Medicine by 257.1% during the third quarter. Vestal Point Capital LP now owns 500,000 shares of the company’s stock valued at $33,040,000 after purchasing an additional 360,000 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Disc Medicine during the third quarter worth about $22,342,000. 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.