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

Disc Medicine (NASDAQ:IRON - Get Free Report) had its price objective boosted by stock analysts at BMO Capital Markets from $112.00 to $120.00 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' price objective suggests a potential upside of 157.24% from the company's current price.

A number of other research firms have also recently weighed in on IRON. TD Cowen initiated coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a "buy" rating on the stock. Cantor Fitzgerald raised their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Morgan Stanley reissued an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Wedbush reissued an "outperform" rating and set a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 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 $2.41 on Monday, hitting $46.65. The stock had a trading volume of 196,105 shares, compared to its average volume of 349,131. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -11.78 and a beta of 0.77. The stock's 50 day moving average is $46.93 and its 200-day moving average is $54.98. Disc Medicine has a 52-week low of $30.65 and a 52-week high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). Equities analysts expect that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other news, insider William Jacob Savage sold 2,100 shares of Disc Medicine stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now owns 66,398 shares of the company's stock, valued at $3,331,187.66. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 5,738 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $54.11, for a total transaction of $310,483.18. Following the transaction, the director now directly owns 186,541 shares in the company, valued at $10,093,733.51. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,290 shares of company stock worth $19,336,901 over the last ninety days. 4.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Barclays PLC lifted its position in Disc Medicine by 123.7% during the 3rd quarter. Barclays PLC now owns 40,145 shares of the company's stock valued at $1,972,000 after purchasing an additional 22,202 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Disc Medicine by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company's stock valued at $799,000 after acquiring an additional 2,257 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Disc Medicine by 66.0% in the 4th quarter. SG Americas Securities LLC now owns 8,076 shares of the company's stock valued at $512,000 after acquiring an additional 3,212 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock worth $400,000 after purchasing an additional 593 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Disc Medicine during the 4th quarter worth approximately $486,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Disc Medicine Company Profile

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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