Disc Medicine (NASDAQ:IRON) Price Target Raised to $70.00 at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by stock analysts at Scotiabank from $62.00 to $70.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 8.02% from the company’s current price.

IRON has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a report on Tuesday. Jefferies Financial Group initiated coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Wedbush reiterated an “outperform” rating and set a $75.00 target price (up from $60.00) on shares of Disc Medicine in a report on Monday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $80.20.

Disc Medicine Stock Performance

NASDAQ IRON opened at $64.80 on Tuesday. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The company’s 50-day moving average price is $49.06 and its 200-day moving average price is $43.19.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.08. As a group, equities research analysts expect that Disc Medicine will post -4.09 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,538 shares of company stock worth $437,875 over the last quarter. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its stake in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $54,000 after purchasing an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Disc Medicine during the 2nd quarter valued at $129,000. SG Americas Securities LLC boosted its position in shares of Disc Medicine by 44.2% in the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock worth $183,000 after purchasing an additional 1,247 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in Disc Medicine during the 1st quarter worth $211,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.