Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $93.80

Disc Medicine, Inc. (NASDAQ:IRON) has been assigned a consensus recommendation of “Buy” from the eleven analysts that are covering the company, Marketbeat reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $93.80.

A number of research analysts recently weighed in on IRON shares. Scotiabank boosted 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. Morgan Stanley reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Cantor Fitzgerald lifted their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st.

Insider Transactions at Disc Medicine

In related news, Director Mona Ashiya sold 10,011 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $54.00, for a total transaction of $540,594.00. Following the sale, the director now owns 187,297 shares of the company’s stock, valued at $10,114,038. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John D. Quisel sold 19,820 shares of Disc Medicine 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 completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,550,184.10. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 396,284 shares of company stock valued at $21,865,764. 4.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after acquiring an additional 1,459,434 shares during the period. Wellington Management Group LLP lifted its stake in Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after purchasing an additional 83,731 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock valued at $88,421,000 after purchasing an additional 262,690 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after purchasing an additional 467,988 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Disc Medicine by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock worth $67,727,000 after buying an additional 18,716 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Price Performance

Shares of IRON opened at $52.24 on Thursday. The company has a market cap of $1.81 billion, a PE ratio of -13.13 and a beta of 0.73. The firm has a 50-day moving average of $55.26 and a 200-day moving average of $56.06. Disc Medicine has a one year low of $25.60 and a one year high of $68.73.

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

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.