Disc Medicine (NASDAQ:IRON) Given New $118.00 Price Target at HC Wainwright

Disc Medicine (NASDAQ:IRON) had its target price upped by equities research analysts at HC Wainwright from $70.00 to $118.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 94.49% from the stock’s current price.

Several other brokerages have also commented on IRON. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $83.00 target price (up from $75.00) on shares of Disc Medicine in a research report on Tuesday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $85.80.

Disc Medicine Stock Performance

IRON stock opened at $60.67 on Wednesday. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The firm’s fifty day moving average is $51.02 and its 200 day moving average is $44.75. The firm has a market cap of $1.80 billion, a PE ratio of -15.24 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15. Research analysts predict that Disc Medicine will post -4.15 earnings per share for the current fiscal year.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 7,538 shares of company stock worth $437,875 in the last quarter. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IRON. Verition Fund Management LLC purchased a new stake in shares of Disc Medicine in the 3rd quarter valued at approximately $589,000. Walleye Capital LLC boosted its stake in shares of Disc Medicine by 53.7% in the third quarter. Walleye Capital LLC now owns 209,236 shares of the company’s stock valued at $10,282,000 after purchasing an additional 73,140 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Disc Medicine by 21.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,649 shares of the company’s stock valued at $916,000 after purchasing an additional 3,312 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Disc Medicine by 18.0% during the 3rd quarter. MetLife Investment Management LLC now owns 11,377 shares of the company’s stock worth $559,000 after buying an additional 1,735 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Disc Medicine in the 3rd quarter valued at approximately $146,000. Institutional investors and hedge funds 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.