Analysts Set Disc Medicine, Inc. (NASDAQ:IRON) Target Price at $87.50

Disc Medicine, Inc. (NASDAQ:IRON) has been given a consensus rating of “Buy” by the ten research firms that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $87.50.

Several analysts recently issued reports on IRON shares. Scotiabank raised their target price on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Monday, December 9th.

Insider Activity

In other news, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the transaction, the insider now owns 14,035 shares in the company, valued at approximately $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John D. Quisel sold 12,791 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,758 shares of company stock worth $5,400,990. Insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several institutional investors have recently added to or reduced their stakes in IRON. Frazier Life Sciences Management L.P. boosted its position in shares of Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares during the last quarter. Logos Global Management LP bought a new stake in shares of Disc Medicine in the second quarter worth approximately $41,690,000. Point72 Asset Management L.P. purchased a new position in shares of Disc Medicine during the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C lifted its position in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after purchasing an additional 303,954 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $62.04 on Friday. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm has a market cap of $1.85 billion, a PE ratio of -15.59 and a beta of 0.76. The business has a 50 day moving average price of $62.21 and a 200-day moving average price of $52.46.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Research analysts predict that Disc Medicine will post -4.05 EPS for the current year.

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.