Disc Medicine (NASDAQ:IRON) Price Target Raised to $110.00 at Wedbush

Disc Medicine (NASDAQ:IRON) had its price target increased by Wedbush from $90.00 to $110.00 in a research note published on Friday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

IRON has been the subject of a number of other research reports. Truist Financial assumed coverage on shares of Disc Medicine in a research report on Monday, July 21st. They set a “buy” rating and a $86.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research report on Wednesday, October 8th. Finally, Morgan Stanley increased their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.73.

Disc Medicine Trading Up 21.0%

Shares of Disc Medicine stock opened at $89.94 on Friday. The stock has a market capitalization of $3.13 billion, a P/E ratio of -20.12 and a beta of 0.80. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $63.69 and a 200 day simple moving average of $54.72. Disc Medicine has a 12-month low of $30.82 and a 12-month high of $95.95.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.41). Research analysts expect that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Disc Medicine news, Director Kevin Bitterman sold 70,000 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $88.91, for a total transaction of $6,223,700.00. Following the sale, the director owned 385,549 shares of the company’s stock, valued at $34,279,161.59. This represents a 15.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 269,803 shares of company stock worth $19,622,192. 3.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Arizona State Retirement System boosted its stake in shares of Disc Medicine by 12.5% in the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock valued at $264,000 after purchasing an additional 590 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after purchasing an additional 219 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Disc Medicine by 11.7% in the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock valued at $10,365,000 after purchasing an additional 21,796 shares during the last quarter. Atle Fund Management AB bought a new position in shares of Disc Medicine in the 2nd quarter valued at about $1,306,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Disc Medicine by 10.9% in the 1st quarter. MetLife Investment Management LLC now owns 13,454 shares of the company’s stock valued at $668,000 after purchasing an additional 1,322 shares during the last quarter. Institutional investors 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.