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

Disc Medicine (NASDAQ:IRON) had its price target boosted by equities researchers at Scotiabank from $70.00 to $73.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 28.09% from the stock’s current price.

IRON has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Tuesday, November 5th. Finally, Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $66.00 to $110.00 in a report on Monday, November 4th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Disc Medicine currently has an average rating of “Buy” and an average target price of $88.50.

Disc Medicine Trading Down 2.6 %

NASDAQ IRON opened at $56.99 on Wednesday. The stock’s fifty day moving average price is $62.66 and its 200-day moving average price is $53.72. The stock has a market cap of $1.70 billion, a P/E ratio of -14.32 and a beta of 0.75. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William Richard White sold 1,957 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were 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 available at this link. Also, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the sale, the insider now owns 40,405 shares in the company, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in IRON. Amalgamated Bank boosted its holdings in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares in the last quarter. Quest Partners LLC purchased a new stake in Disc Medicine in the third quarter valued at about $131,000. Quantbot Technologies LP acquired a new stake in shares of Disc Medicine during the third quarter worth $146,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Disc Medicine during the third quarter worth about $228,000. 83.70% of the stock is owned by hedge funds and other 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.