Disc Medicine (NASDAQ:IRON) Price Target Raised to $110.00

Key Points

• Wedbush has raised the price target for Disc Medicine (NASDAQ:IRON) from $90.00 to $110.00, indicating a potential upside of nearly 48% from the company's previous close.
• Disc Medicine has a consensus rating of "Moderate Buy" among analysts, with mixed outlooks reflected in recent ratings ranging from "Strong Buy" to "Sell."
• The company's shares are currently valued at $74.36 after experiencing a 3.4% decline, despite its robust financial position with a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON - Get Free Report) had its price objective lifted by research analysts at Wedbush from $90.00 to $110.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target would suggest a potential upside of 47.93% from the company's previous close.

Several other analysts also recently commented on IRON. Morgan Stanley increased their price objective on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. HC Wainwright reissued a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Thursday, July 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Disc Medicine in a research report on Wednesday, October 8th. Finally, Truist Financial initiated coverage on shares of Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.30.

Disc Medicine Stock Down 3.4%

Shares of Disc Medicine stock opened at $74.36 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11. The company has a 50-day moving average of $63.05 and a 200 day moving average of $54.43. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -16.64 and a beta of 0.80. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $78.17.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, sell-side analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kevin Bitterman sold 71,961 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $70.58, for a total value of $5,079,007.38. Following the transaction, the director owned 500,621 shares of the company's stock, valued at approximately $35,333,830.18. This trade represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 176,218 shares of company stock valued at $11,577,193 over the last quarter. Company insiders own 3.64% of the company's stock.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Disc Medicine by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock valued at $71,000 after buying an additional 181 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Disc Medicine by 8.9% during the second quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company's stock valued at $133,000 after buying an additional 206 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after purchasing an additional 219 shares in the last quarter. HighVista Strategies LLC increased its position in Disc Medicine by 4.3% in the second quarter. HighVista Strategies LLC now owns 6,733 shares of the company's stock worth $357,000 after purchasing an additional 275 shares during the last quarter. Finally, Avanza Fonder AB increased its position in Disc Medicine by 54.0% in the third quarter. Avanza Fonder AB now owns 1,668 shares of the company's stock worth $110,000 after purchasing an additional 585 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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