Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $85.80

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received an average rating of “Buy” from the ten analysts that are currently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $85.80.

Several research firms recently weighed in on IRON. HC Wainwright boosted their price objective on Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group initiated coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price for the company.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 7,538 shares of company stock valued at $437,875 in the last 90 days. 4.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Disc Medicine

Several large investors have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Disc Medicine in the 2nd quarter worth approximately $129,000. Quest Partners LLC bought a new stake in Disc Medicine during the 3rd quarter worth approximately $131,000. Finally, Quantbot Technologies LP acquired a new stake in Disc Medicine during the 3rd quarter valued at $146,000. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Down 2.0 %

NASDAQ:IRON opened at $59.46 on Friday. The company’s 50 day moving average is $51.20 and its 200-day moving average is $45.20. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -14.94 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. Research analysts predict that Disc Medicine will post -4.05 EPS for the current fiscal year.

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.