Disc Medicine (NASDAQ:IRON) Price Target Raised to $120.00

Disc Medicine (NASDAQ:IRON - Get Free Report) had its target price lifted by equities researchers at BMO Capital Markets from $112.00 to $120.00 in a report released on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price objective points to a potential upside of 149.53% from the stock's current price.

IRON has been the subject of several other reports. Scotiabank boosted their price target on Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Cantor Fitzgerald upped their target price on Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Morgan Stanley restated an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Stifel Nicolaus upped their target price on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, HC Wainwright restated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten 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, the stock has a consensus rating of "Buy" and an average price target of $98.80.

Disc Medicine Stock Performance

Shares of IRON stock traded up $1.00 during trading on Monday, hitting $48.09. The company had a trading volume of 442,342 shares, compared to its average volume of 349,983. The firm has a market capitalization of $1.66 billion, a P/E ratio of -12.08 and a beta of 0.77. The stock's 50-day moving average price is $46.10 and its 200 day moving average price is $54.88. Disc Medicine has a one year low of $30.65 and a one year high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.03). On average, research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In related news, Director Mona Ashiya sold 202,146 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the sale, the director now owns 208,742 shares of the company's stock, valued at $11,332,603.18. This trade represents a 49.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $87,873.80. Following the sale, the chief operating officer now directly owns 40,555 shares in the company, valued at approximately $2,213,491.90. This trade represents a 3.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 356,290 shares of company stock valued at $19,336,901 in the last 90 days. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in Disc Medicine by 67.9% during the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock worth $116,331,000 after buying an additional 948,094 shares during the period. FMR LLC lifted its holdings in Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company's stock worth $118,320,000 after buying an additional 1,459,434 shares during the period. RA Capital Management L.P. acquired a new position in Disc Medicine during the 1st quarter worth about $78,288,000. Price T Rowe Associates Inc. MD lifted its holdings in Disc Medicine by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company's stock worth $88,421,000 after buying an additional 262,690 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Disc Medicine by 22.2% during the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock worth $64,782,000 after buying an additional 236,800 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

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.