Cantor Fitzgerald Boosts Disc Medicine (NASDAQ:IRON) Price Target to $132.00

Disc Medicine (NASDAQ:IRON) had its target price upped by Cantor Fitzgerald from $99.00 to $132.00 in a report released on Tuesday morning, MarketBeat.com reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Wedbush restated an “outperform” rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Morgan Stanley restated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. Stifel Nicolaus boosted their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Scotiabank increased their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Finally, TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $93.80.

Disc Medicine Trading Up 3.0 %

NASDAQ:IRON opened at $52.83 on Tuesday. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $68.86. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -13.27 and a beta of 0.73. The business’s fifty day moving average price is $55.77 and its 200 day moving average price is $56.04.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. Equities analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John D. Quisel sold 19,820 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $63.14, for a total value of $1,251,434.80. Following the sale, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mona Ashiya sold 202,146 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the transaction, the director now owns 208,742 shares of the company’s stock, valued at approximately $11,332,603.18. The trade was a 49.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 346,617 shares of company stock valued at $19,182,953 in the last three months. Company insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after acquiring an additional 70,983 shares during the period. State Street Corp raised its stake in shares of Disc Medicine by 39.7% in the third quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Verition Fund Management LLC bought a new position in Disc Medicine in the third quarter worth $589,000. Charles Schwab Investment Management Inc. boosted its stake in Disc Medicine by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock worth $7,890,000 after buying an additional 19,401 shares in the last quarter. Finally, Barclays PLC increased its holdings in Disc Medicine by 123.7% in the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after buying an additional 22,202 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

About Disc Medicine

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.