Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) PT at $57.29

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $57.29.

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective (down previously from $75.00) on shares of Disc Medicine in a report on Monday, April 1st. Stifel Nicolaus raised their target price on Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a report on Monday, April 8th. BMO Capital Markets cut their price target on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a report on Monday, April 1st.

Disc Medicine Trading Up 2.5 %

Shares of IRON opened at $28.53 on Monday. The company’s 50-day moving average price is $49.47 and its 200 day moving average price is $54.46. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The firm has a market cap of $688.71 million, a P/E ratio of -8.17 and a beta of 0.18.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.22). Equities research analysts forecast that Disc Medicine will post -4.44 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 2,560 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.71% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Turn Management LLC acquired a new position in shares of Disc Medicine in the 4th quarter valued at $9,084,000. Adage Capital Partners GP L.L.C. increased its stake in Disc Medicine by 12.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after purchasing an additional 145,781 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Disc Medicine in the third quarter valued at about $6,461,000. Frazier Life Sciences Management L.P. boosted its stake in shares of Disc Medicine by 19.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after buying an additional 130,000 shares during the period. Finally, Perceptive Advisors LLC grew its holdings in shares of Disc Medicine by 14.2% during the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after buying an additional 127,404 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.