Disc Medicine (NASDAQ:IRON) Price Target Raised to $100.00

Disc Medicine (NASDAQ:IRON) had its price objective raised by Wedbush from $88.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 27.11% from the company’s current price.

A number of other equities analysts also recently commented on IRON. HC Wainwright boosted their price objective on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley reiterated an “overweight” rating and issued a $90.00 price target on shares of Disc Medicine in a report on Monday, August 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Disc Medicine in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded Disc Medicine from a “hold” rating to a “sell” rating in a research report on Saturday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.70.

Disc Medicine Trading Up 0.0%

NASDAQ IRON opened at $78.67 on Wednesday. Disc Medicine has a one year low of $40.00 and a one year high of $99.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -11.96 and a beta of 0.98. The company’s 50-day simple moving average is $77.30 and its two-hundred day simple moving average is $70.09.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.17. Equities analysts forecast that Disc Medicine will post -6.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the completion of the sale, the insider owned 52,173 shares of the company’s stock, valued at approximately $3,663,588.06. This trade represents a 12.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John D. Quisel sold 34,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the transaction, the chief executive officer owned 226,064 shares in the company, valued at approximately $15,871,953.44. This trade represents a 13.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 153,612 shares of company stock worth $11,431,811 in the last ninety days. 3.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. State of Wyoming purchased a new position in shares of Disc Medicine in the second quarter worth $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Disc Medicine during the fourth quarter valued at $33,000. Allworth Financial LP acquired a new position in shares of Disc Medicine in the 2nd quarter valued at $46,000. Nykredit A S purchased a new position in Disc Medicine in the 2nd quarter worth $103,000. Finally, Persistent Asset Partners Ltd purchased a new position in Disc Medicine in the 4th quarter worth $141,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.