Morgan Stanley Forecasts Strong Price Appreciation for Disc Medicine (NASDAQ:IRON) Stock

Key Points

• Morgan Stanley has raised its price target for Disc Medicine (NASDAQ:IRON) from $85.00 to $90.00, indicating a potential upside of 49.48% from the stock's previous close.
• Multiple analysts have issued positive ratings for Disc Medicine, with an overall consensus rating of "Buy" and an average price target of $96.18.
• Recent insider trading saw Director Kevin Bitterman sell 7,212 shares, reducing his ownership by 1.20%, while several institutional investors have increased their stakes in the company.

Disc Medicine (NASDAQ:IRON - Get Free Report) had its price target lifted by equities researchers at Morgan Stanley from $85.00 to $90.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target points to a potential upside of 49.48% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Wedbush restated an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. HC Wainwright restated a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. Truist Financial began coverage on Disc Medicine in a research report on Monday, July 21st. They issued a "buy" rating and a $86.00 target price on the stock. BMO Capital Markets lifted their price objective on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Finally, Raymond James Financial initiated coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $96.18.

Disc Medicine Stock Performance

Disc Medicine stock traded up $0.35 during midday trading on Monday, hitting $60.21. 4,769 shares of the company were exchanged, compared to its average volume of 403,368. The firm has a market capitalization of $2.09 billion, a PE ratio of -13.47 and a beta of 0.77. Disc Medicine has a fifty-two week low of $30.82 and a fifty-two week high of $68.73. The business has a fifty day simple moving average of $56.19 and a two-hundred day simple moving average of $51.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11.

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 analysts' consensus estimates of ($1.17) by ($0.41). On average, sell-side analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Activity at Disc Medicine

In other news, Director Kevin Bitterman sold 7,212 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $60.99, for a total value of $439,859.88. Following the completion of the sale, the director owned 592,908 shares of the company's stock, valued at $36,161,458.92. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jean M. Franchi sold 2,031 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the transaction, the chief financial officer directly owned 63,499 shares in the company, valued at approximately $3,746,441. The trade was a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,299 shares of company stock valued at $8,200,912. Corporate insiders own 3.64% of the company's stock.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System lifted 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 valued at $264,000 after acquiring an additional 590 shares during the last quarter. Amalgamated Bank increased its stake in shares of Disc Medicine by 38.6% during the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after purchasing an additional 219 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Disc Medicine during the 4th quarter valued at $5,479,000. Rhumbline Advisers lifted its holdings in shares of Disc Medicine by 10.7% during the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock worth $1,596,000 after acquiring an additional 3,108 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Disc Medicine by 5,092.5% in the first quarter. GAMMA Investing LLC now owns 12,410 shares of the company's stock valued at $616,000 after acquiring an additional 12,171 shares during the period. 83.70% of the stock is currently owned by institutional investors.

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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