Cantor Fitzgerald Forecasts Strong Price Appreciation for Disc Medicine (NASDAQ:IRON) Stock

Key Points

• Cantor Fitzgerald has raised its price target for Disc Medicine (NASDAQ:IRON) from $132.00 to $153.00, indicating a potential upside of 67.98% from the previous close.
• Analysts show a consensus rating of "Moderate Buy" for Disc Medicine, with an average target price of $104.30.
• The company reported a loss of ($1.58) per share in its latest quarterly earnings, missing consensus estimates of ($1.17) by ($0.41).

Disc Medicine (NASDAQ:IRON - Get Free Report) had its price target raised by analysts at Cantor Fitzgerald from $132.00 to $153.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 67.98% from the company's previous close.

Several other research analysts also recently commented on the company. Truist Financial initiated coverage on Disc Medicine in a report on Monday, July 21st. They set a "buy" rating and a $86.00 target price on the stock. Raymond James Financial set a $108.00 price objective on shares of Disc Medicine and gave the stock a "strong-buy" rating in a research report on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of Disc Medicine in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Disc Medicine has a consensus rating of "Moderate Buy" and an average target price of $104.30.

Disc Medicine Price Performance

Disc Medicine stock traded up $16.72 during mid-day trading on Friday, reaching $91.08. The company had a trading volume of 1,091,070 shares, compared to its average volume of 394,596. The company has a market cap of $3.17 billion, a P/E ratio of -20.46 and a beta of 0.80. Disc Medicine has a fifty-two week low of $30.82 and a fifty-two week high of $95.95. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $63.05 and a 200 day simple moving average of $54.43.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). On average, equities research analysts predict that Disc Medicine will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kevin Bitterman sold 71,961 shares of Disc Medicine stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $70.58, for a total transaction of $5,079,007.38. Following the transaction, the director owned 500,621 shares of the company's stock, valued at $35,333,830.18. The trade was a 12.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 176,218 shares of company stock valued at $11,577,193. 3.64% of the stock is currently owned by company insiders.

Institutional Trading of Disc Medicine

Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System grew its stake in shares of Disc Medicine by 12.5% in the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock worth $264,000 after acquiring an additional 590 shares in the last quarter. Amalgamated Bank increased its stake in Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after buying an additional 219 shares during the last quarter. Northern Trust Corp lifted its holdings in Disc Medicine by 11.7% during the first quarter. Northern Trust Corp now owns 208,813 shares of the company's stock worth $10,365,000 after acquiring an additional 21,796 shares during the period. Atle Fund Management AB bought a new stake in Disc Medicine during the second quarter worth $1,306,000. Finally, MetLife Investment Management LLC boosted its holdings in shares of Disc Medicine by 10.9% in the 1st quarter. MetLife Investment Management LLC now owns 13,454 shares of the company's stock worth $668,000 after buying an additional 1,322 shares during the last quarter. 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.

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