Cantor Fitzgerald Raises Disc Medicine (NASDAQ:IRON) Price Target to $132.00

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by Cantor Fitzgerald from $99.00 to $132.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 157.46% from the company’s previous close.

Several other equities analysts also recently commented on the company. Stifel Nicolaus upped their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wedbush restated an “outperform” rating and set a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank increased their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Finally, TD Cowen began coverage on Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating on the stock. Ten 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 presently has a consensus rating of “Buy” and an average target price of $93.80.

Disc Medicine Stock Up 0.5 %

IRON stock opened at $51.27 on Tuesday. The firm has a market cap of $1.77 billion, a PE ratio of -12.88 and a beta of 0.73. The business has a 50 day moving average of $55.95 and a 200-day moving average of $56.03. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $68.86.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.08. On average, research analysts expect that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Activity

In related news, CFO Jean M. Franchi sold 3,136 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the completion of the sale, the chief financial officer now owns 69,530 shares of the company’s stock, valued at $3,794,947.40. This trade represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John D. Quisel sold 19,820 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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 $4,550,184.10. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 346,617 shares of company stock worth $19,182,953. Insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in Disc Medicine by 17.6% in 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 period. State Street Corp grew its position in Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares during the period. Verition Fund Management LLC purchased a new position in shares of Disc Medicine during the 3rd quarter worth $589,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Disc Medicine by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock worth $7,890,000 after acquiring an additional 19,401 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Disc Medicine by 123.7% during the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock worth $1,972,000 after acquiring an additional 22,202 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

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.