Disc Medicine (NASDAQ:IRON) Given New $127.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised its price target on Disc Medicine from $120 to $127 and maintained a Buy rating, implying 61.85% upside from the prior close.
• Analyst sentiment is broadly positive: 11 analysts rate the stock Buy, one Hold, and one Sell; the consensus rating is Moderate Buy with a $123.40 target.
• Disc Medicine reported a quarterly loss of $1.53 per share, narrower than analysts’ estimate of $1.63, while its shares fell 5.8% on Friday.

Disc Medicine (NASDAQ:IRON - Get Free Report) had its price target increased by equities research analysts at HC Wainwright from $120.00 to $127.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 61.85% from the company's previous close.

IRON has been the subject of a number of other reports. BMO Capital Markets lifted their price target on shares of Disc Medicine from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, October 19th. Cantor Fitzgerald boosted their price target on shares of Disc Medicine from $125.00 to $170.00 and gave the stock an "overweight" rating in a research note on Monday, October 19th. Wells Fargo & Company increased their price objective on Disc Medicine from $86.00 to $124.00 and gave the company an "overweight" rating in a research note on Tuesday, October 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Disc Medicine in a report on Thursday, October 15th. Finally, Morgan Stanley boosted their target price on Disc Medicine from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 20th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Disc Medicine presently has an average rating of "Moderate Buy" and a consensus target price of $123.40.

Disc Medicine Trading Down 5.8%

Shares of Disc Medicine stock opened at $78.47 on Friday. The firm has a 50-day simple moving average of $71.28 and a two-hundred day simple moving average of $70.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. Disc Medicine has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The company has a market cap of $3.01 billion, a P/E ratio of -11.93 and a beta of 0.96.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($1.53) earnings per share for the quarter, beating analysts' consensus estimates of ($1.63) by $0.10. As a group, equities analysts predict that Disc Medicine will post -6.61 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John D. Quisel sold 33,000 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $79.15, for a total transaction of $2,611,950.00. Following the completion of the transaction, the chief executive officer owned 226,064 shares in the company, valued at approximately $17,892,965.60. The trade was a 12.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kevin Bitterman sold 25,519 shares of the stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $80.23, for a total value of $2,047,389.37. Following the completion of the transaction, the director directly owned 12,991 shares in the company, valued at $1,042,267.93. This trade represents a 66.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 168,046 shares of company stock worth $13,191,034. 3.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in shares of Disc Medicine during the second quarter worth about $1,350,000. Bank of America Corp DE acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at about $9,882,000. Opaleye Management Inc. boosted its position in shares of Disc Medicine by 103.1% in the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock valued at $62,535,000 after purchasing an additional 434,000 shares during the period. Squarepoint Ops LLC boosted its position in shares of Disc Medicine by 139.3% in the 2nd quarter. Squarepoint Ops LLC now owns 75,872 shares of the company's stock valued at $5,549,000 after purchasing an additional 44,163 shares during the period. Finally, BlackRock Inc. purchased a new position in Disc Medicine during the 2nd quarter worth approximately $180,502,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Company Profile

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company's pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.

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