Disc Medicine (NASDAQ:IRON) Given New $94.00 Price Target at Stifel Nicolaus

Disc Medicine (NASDAQ:IRON) had its price objective upped by Stifel Nicolaus from $90.00 to $94.00 in a report issued on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on IRON. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank boosted their price objective on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research 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 data from MarketBeat, Disc Medicine currently has an average rating of “Buy” and an average target price of $88.90.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $57.45 on Friday. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -14.43 and a beta of 0.75. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The stock has a 50-day simple moving average of $62.62 and a 200 day simple moving average of $53.89.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, equities research analysts forecast that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the sale, the chief executive officer now owns 72,065 shares in the company, valued at $4,757,010.65. This represents a 15.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Richard White sold 7,136 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,758 shares of company stock worth $5,400,990. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Disc Medicine by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after purchasing an additional 70,983 shares during the last quarter. State Street Corp grew its stake in Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after buying an additional 235,115 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Disc Medicine in the 2nd quarter valued at $34,318,000. Verition Fund Management LLC acquired a new stake in Disc Medicine in the 3rd quarter worth $589,000. Finally, Frazier Life Sciences Management L.P. grew its position in Disc Medicine by 123.5% in the 2nd 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. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.