Analysts Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $85.80

Disc Medicine, Inc. (NASDAQ:IRON) has been assigned an average rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $85.80.

IRON has been the subject of several recent analyst reports. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Tuesday, November 5th. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Scotiabank raised their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th.

Disc Medicine Stock Up 3.8 %

Shares of Disc Medicine stock opened at $59.55 on Friday. The business’s fifty day simple moving average is $51.51 and its 200-day simple moving average is $45.61. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The firm has a market cap of $1.77 billion, a PE ratio of -14.96 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, equities analysts expect that Disc Medicine will post -4.05 earnings per share for the current year.

Insider Activity

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. This represents a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,696 shares of company stock worth $984,058. Insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its position in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Disc Medicine by 2.7% during the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after purchasing an additional 771 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after purchasing an additional 793 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Disc Medicine by 23.0% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after purchasing an additional 856 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors.

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.