Disc Medicine (NASDAQ:IRON) Given New $75.00 Price Target at Scotiabank

Disc Medicine (NASDAQ:IRON - Free Report) had its price objective hoisted by Scotiabank from $73.00 to $75.00 in a research report released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other research analysts have also weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Tuesday, January 21st. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They issued a "buy" rating on the stock. Stifel Nicolaus lifted their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Raymond James raised shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Morgan Stanley raised shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $89.10.

Remove Ads

Disc Medicine Stock Performance

NASDAQ IRON traded down $1.42 during trading hours on Monday, hitting $55.50. 207,818 shares of the company's stock were exchanged, compared to its average volume of 381,154. The business's 50 day moving average is $57.54 and its 200-day moving average is $55.76. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $68.86. The firm has a market capitalization of $1.65 billion, a P/E ratio of -13.94 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.08. As a group, equities research analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at $4,757,010.65. This represents a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of Disc Medicine stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $87,873.80. Following the completion of the transaction, the chief operating officer now owns 40,555 shares of the company's stock, valued at $2,213,491.90. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,080 shares of company stock worth $4,523,520 over the last ninety days. Corporate insiders own 4.24% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its stake in Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after acquiring an additional 266 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company's stock valued at $54,000 after buying an additional 337 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Disc Medicine by 8.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock valued at $308,000 after buying an additional 396 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after acquiring an additional 503 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock worth $400,000 after acquiring an additional 593 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

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.