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

Disc Medicine (NASDAQ:IRON) had its target price increased by analysts at Cantor Fitzgerald from $99.00 to $132.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 145.63% from the stock’s current price.

A number of other brokerages have also commented on IRON. Stifel Nicolaus upped their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Wedbush reissued an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Scotiabank increased their target price on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $93.80.

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $53.74 on Tuesday. The stock’s fifty day moving average price is $55.59 and its two-hundred day moving average price is $56.03. Disc Medicine has a one year low of $25.60 and a one year high of $68.86. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -13.50 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, equities analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Disc Medicine news, CFO Jean M. Franchi sold 3,136 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,162.88. Following the completion of the transaction, the chief financial officer now directly owns 69,530 shares in the company, valued at approximately $3,794,947.40. This trade represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $87,873.80. Following the completion of the transaction, the chief operating officer now owns 40,555 shares of the company’s stock, valued at $2,213,491.90. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 346,617 shares of company stock worth $19,182,953 in the last ninety days. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently bought and sold shares of the company. FMR LLC increased its stake in shares of Disc Medicine by 358.7% in the fourth quarter. FMR LLC now owns 1,866,248 shares of the company’s stock valued at $118,320,000 after buying an additional 1,459,434 shares during the period. Janus Henderson Group PLC increased its stake in shares of Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after buying an additional 467,988 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Disc Medicine by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock valued at $88,421,000 after buying an additional 262,690 shares during the period. State Street Corp increased 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 buying an additional 235,115 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Disc Medicine in the fourth quarter valued at about $5,579,000. 83.70% of the stock is currently owned by 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.