Disc Medicine (NASDAQ:IRON) Shares Gap Up to $41.25

Shares of Disc Medicine, Inc. (NASDAQ:IRON) gapped up before the market opened on Friday . The stock had previously closed at $41.25, but opened at $43.64. Disc Medicine shares last traded at $42.88, with a volume of 48,915 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on IRON shares. BMO Capital Markets restated an “outperform” rating and issued a $70.00 price objective (up previously from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday, May 28th. Raymond James lifted their price objective on shares of Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Wedbush reissued an “outperform” rating and set a $57.00 target price (up from $43.00) on shares of Disc Medicine in a research note on Friday, June 14th. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a research report on Friday, June 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Disc Medicine currently has a consensus rating of “Moderate Buy” and an average target price of $62.57.

Disc Medicine Trading Up 7.1 %

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -13.07 and a beta of 0.51. The stock has a 50-day moving average of $33.61 and a two-hundred day moving average of $50.76.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). Sell-side analysts expect that Disc Medicine, Inc. will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William Richard White sold 2,560 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds have recently bought and sold shares of the business. Strs Ohio raised its stake in shares of Disc Medicine by 66.7% during the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $57,000 after purchasing an additional 400 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Disc Medicine during the 4th quarter worth about $63,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Disc Medicine during the 4th quarter worth about $161,000. ProShare Advisors LLC purchased a new stake in shares of Disc Medicine during the 1st quarter worth about $211,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Disc Medicine during the 4th quarter worth about $215,000. 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.