Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Target Price at $87.50

Disc Medicine, Inc. (NASDAQ:IRON) has earned an average rating of “Buy” from the ten analysts that are covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $87.50.

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group started coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Scotiabank lifted their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a report on Tuesday, November 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $83.00 price target on shares of Disc Medicine in a report on Monday, December 9th.

Disc Medicine Stock Down 2.8 %

Disc Medicine stock opened at $62.04 on Friday. The business has a 50-day simple moving average of $62.21 and a two-hundred day simple moving average of $52.46. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The company has a market cap of $1.85 billion, a P/E ratio of -15.59 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON) last announced 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. Research analysts anticipate that Disc Medicine will post -4.05 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 1,957 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the sale, the insider now owns 14,035 shares in the company, valued at $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,758 shares of company stock valued at $5,400,990 in the last three months. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Disc Medicine by 89.4% during the second quarter. Bank of New York Mellon Corp now owns 51,050 shares of the company’s stock valued at $2,301,000 after purchasing an additional 24,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Disc Medicine in the 2nd quarter valued at about $129,000. Rhumbline Advisers grew its position in Disc Medicine by 86.2% in the second quarter. Rhumbline Advisers now owns 24,447 shares of the company’s stock worth $1,102,000 after acquiring an additional 11,315 shares in the last quarter. TD Asset Management Inc increased its stake in Disc Medicine by 3.7% during the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after acquiring an additional 1,468 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Disc Medicine by 46.5% during the second quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock valued at $14,064,000 after purchasing an additional 98,988 shares during the period. 83.70% of the stock is currently owned by institutional investors.

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.