Disc Medicine (NASDAQ:IRON) Stock Price Expected to Rise, Scotiabank Analyst Says

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by analysts at Scotiabank from $70.00 to $73.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 28.09% from the stock’s previous close.

Several other research firms have also commented on IRON. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday. Wedbush restated an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $110.00 in a report on Monday, November 4th. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group initiated coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Buy” and a consensus price target of $88.50.

Disc Medicine Stock Performance

NASDAQ IRON opened at $56.99 on Wednesday. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The firm has a 50 day simple moving average of $62.66 and a 200-day simple moving average of $53.72. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -14.32 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. Equities analysts predict that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John D. Quisel sold 19,820 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,758 shares of company stock worth $5,400,990 in the last quarter. 4.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently added to or reduced their stakes in IRON. Amalgamated Bank grew its stake 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $54,000 after purchasing an additional 337 shares during the period. Quest Partners LLC acquired a new position in shares of Disc Medicine in the 3rd quarter valued at about $131,000. Quantbot Technologies LP acquired a new position in Disc Medicine in the third quarter valued at approximately $146,000. Finally, Intech Investment Management LLC acquired a new position in Disc Medicine during the 3rd quarter valued at approximately $228,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.