Disc Medicine (NASDAQ:IRON) Stock Price Up 5.6% After Analyst Upgrade

Shares of Disc Medicine, Inc. (NASDAQ:IRON) were up 5.6% on Tuesday after Stifel Nicolaus raised their price target on the stock from $79.00 to $90.00. Stifel Nicolaus currently has a buy rating on the stock. Disc Medicine traded as high as $68.35 and last traded at $68.25. Approximately 151,798 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 347,312 shares. The stock had previously closed at $64.66.

IRON has been the topic of several other research reports. Wedbush reissued an “outperform” rating and set a $83.00 price objective on shares of Disc Medicine in a report on Monday. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Tuesday, November 5th. Finally, Scotiabank increased their price objective on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $87.50.

Insider Buying and Selling at Disc Medicine

In related 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 value of $418,240.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Jacob Savage sold 14,183 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the sale, the insider now owns 40,405 shares in the company, valued at $2,644,507.25. This trade represents a 25.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,836 shares of company stock valued at $2,038,816. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IRON. Frazier Life Sciences Management L.P. grew its stake in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after purchasing an additional 969,834 shares during the last quarter. Logos Global Management LP purchased a new stake in Disc Medicine in the second quarter worth about $41,690,000. Point72 Asset Management L.P. purchased a new stake in Disc Medicine in the second quarter worth about $34,318,000. Deerfield Management Company L.P. Series C lifted its holdings in Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after buying an additional 303,954 shares during the period. 83.70% of the stock is owned by institutional investors.

Disc Medicine Stock Down 2.3 %

The company’s fifty day simple moving average is $56.55 and its 200 day simple moving average is $49.18. The firm has a market capitalization of $1.96 billion, a PE ratio of -16.57 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15. Equities research analysts forecast that Disc Medicine, Inc. will post -4.05 EPS for the current year.

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.