Disc Medicine (NASDAQ:IRON) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Disc Medicine (NASDAQ:IRON) had its price target raised by analysts at Morgan Stanley from $90.00 to $115.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 33.38% from the company’s current price.

A number of other equities research analysts have also recently issued reports on IRON. Raymond James Financial boosted their target price on shares of Disc Medicine from $89.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Friday, October 17th. Truist Financial assumed coverage on shares of Disc Medicine in a research report on Monday, July 21st. They issued a “buy” rating and a $86.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. National Bankshares set a $153.00 price objective on shares of Disc Medicine in a research report on Friday, October 17th. Finally, Cantor Fitzgerald upped their price objective on shares of Disc Medicine from $132.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.20.

Disc Medicine Trading Up 0.5%

Shares of Disc Medicine stock opened at $86.22 on Thursday. The firm has a 50-day moving average of $69.07 and a 200-day moving average of $58.08. The stock has a market cap of $3.00 billion, a PE ratio of -19.29 and a beta of 0.80. Disc Medicine has a 52-week low of $30.82 and a 52-week high of $95.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11.

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). As a group, sell-side analysts forecast that Disc Medicine will post -4.07 EPS for the current year.

Insider Activity at Disc Medicine

In other news, Director Kevin Bitterman sold 71,961 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $70.58, for a total value of $5,079,007.38. Following the completion of the transaction, the director owned 500,621 shares of the company’s stock, valued at approximately $35,333,830.18. This represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 218,441 shares of company stock valued at $16,487,450 over the last three months. 3.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in shares of Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock worth $264,000 after acquiring an additional 590 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock worth $39,000 after acquiring an additional 219 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Disc Medicine by 11.7% in the first quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock worth $10,365,000 after acquiring an additional 21,796 shares during the last quarter. Atle Fund Management AB bought a new position in shares of Disc Medicine in the second quarter worth about $1,306,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Disc Medicine by 10.9% in the first quarter. MetLife Investment Management LLC now owns 13,454 shares of the company’s stock worth $668,000 after acquiring 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.