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

Key Points

• Cantor Fitzgerald raised Disc Medicine’s price target to $170 from $125 and maintained an “overweight” rating, implying 117.2% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $110.40.
• Shares rose to $78.27 during Monday trading, while Disc Medicine reported quarterly EPS of negative $1.54, beating the consensus estimate of negative $1.71. Institutional investors own 83.7% of the company, though insiders have recently sold shares.
• Bitopertin met the primary and key goals in the Phase 3 APOLLO trial for erythropoietic protoporphyria, strengthening its commercial prospects and supporting plans for an FDA resubmission. However, regulatory review, commercialization costs and reliance on bitopertin remain important risks.

Disc Medicine (NASDAQ:IRON - Get Free Report) had its price objective hoisted by analysts at Cantor Fitzgerald from $125.00 to $170.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price points to a potential upside of 117.20% from the stock's previous close.

IRON has been the topic of a number of other research reports. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Disc Medicine in a report on Thursday, September 10th. Morgan Stanley reissued an "overweight" rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, August 17th. BMO Capital Markets restated an "outperform" rating on shares of Disc Medicine in a research note on Thursday, September 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research report on Thursday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $128.00 price target on shares of Disc Medicine in a research report on Thursday, September 10th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.40.

Disc Medicine Stock Performance

IRON traded up $21.43 during mid-day trading on Monday, reaching $78.27. 3,940,558 shares of the company traded hands, compared to its average volume of 589,621. The company's fifty day moving average price is $71.55 and its 200-day moving average price is $71.18. The stock has a market capitalization of $300.17 million, a P/E ratio of -11.80 and a beta of 0.93. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine has a 52-week low of $40.00 and a 52-week high of $99.50.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.71) by $0.17. On average, sell-side analysts expect that Disc Medicine will post -6.61 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other news, insider Rahul Khara sold 5,000 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the insider owned 52,324 shares of the company's stock, valued at $4,185,920. The trade was a 8.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jonathan Yu sold 8,796 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total transaction of $731,123.52. Following the sale, the chief operating officer directly owned 54,324 shares of the company's stock, valued at approximately $4,515,410.88. The trade was a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 131,221 shares of company stock worth $10,239,760. 3.76% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Disc Medicine during the 2nd quarter valued at about $180,502,000. Wellington Management Group LLP grew its stake in shares of Disc Medicine by 0.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company's stock valued at $127,362,000 after acquiring an additional 5,975 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Disc Medicine by 191.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company's stock valued at $73,280,000 after acquiring an additional 735,300 shares during the period. Opaleye Management Inc. increased its holdings in Disc Medicine by 103.1% in the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock worth $62,535,000 after acquiring an additional 434,000 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Disc Medicine by 14.7% in the 1st quarter. Jennison Associates LLC now owns 610,382 shares of the company's stock worth $39,028,000 after acquiring an additional 78,303 shares in the last quarter. Institutional investors own 83.70% of the company's stock.

More Disc Medicine News

Here are the key news stories impacting Disc Medicine this week:

• Positive Sentiment: Bitopertin met the primary objective and all key goals in the Phase 3 APOLLO trial, strengthening the case that the drug could become a potential disease-modifying treatment for EPP. Disc Medicine's rare disease drug succeeds in late-stage trial
• Positive Sentiment: Disc Medicine said it plans to resubmit bitopertin to the U.S. Food and Drug Administration, creating a significant regulatory catalyst following the successful trial. Disc Medicine's Bitopertin Meets All Phase 3 Goals; FDA Resubmission Planned
• Positive Sentiment: The late-stage result removes a major clinical risk for IRON and drove a sharp rally as investors reassessed the commercial potential of the Roche-originated drug. Disc Medicine surges on late-stage trial win for lead asset developed with Roche
• Positive Sentiment: Bitopertin could address substantial unmet need because no disease-modifying therapy for EPP is currently approved, although the product remains investigational. Disc Medicine Says Metabolic Disorder Drug Meets Main Goal in Phase 3 Trial
• Neutral Sentiment: Disc Medicine scheduled an investor webcast to discuss the APOLLO topline data, giving investors additional details on efficacy, safety and the planned FDA filing. Disc Medicine to Host Corporate Webcast
• Negative Sentiment: Risks remain around FDA review, potential approval timing, commercialization costs and the company’s reliance on bitopertin as its primary value driver.
• Negative Sentiment: Recent reports questioned IRON’s valuation relative to book value, while disclosed insider activity showed selling and no purchases over the cited six-month period, which may weigh on sentiment. Disc Medicine Stock Still Looks Pricey As Book Value Lags Expectations

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving the production of red blood cells, iron metabolism and heme biology, areas that can contribute to anemia and other blood-related complications.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule therapy designed to modulate glycine transporter 1 and influence heme production. The company is evaluating bitopertin in conditions including erythropoietic protoporphyria, a rare disorder associated with painful light sensitivity, as well as polycythemia vera and other hematologic diseases.

The company is also developing additional therapies intended to regulate iron availability and address anemia associated with chronic or hematologic conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.