Disc Medicine (NASDAQ:IRON) Price Target Raised to $94.00 at Stifel Nicolaus

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by stock analysts at Stifel Nicolaus from $90.00 to $94.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 63.62% from the stock’s previous close.

Several other equities analysts have also recently weighed in on IRON. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a report on Tuesday, November 5th. Scotiabank boosted their price target on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $88.90.

Disc Medicine Trading Up 0.8 %

Disc Medicine stock opened at $57.45 on Friday. The firm has a market capitalization of $1.71 billion, a P/E ratio of -14.43 and a beta of 0.75. The business has a 50-day moving average of $62.62 and a 200-day moving average of $53.83. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.15. Research analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12. Following the transaction, the insider now directly owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its stake in Disc Medicine by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after buying an additional 593 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Disc Medicine by 66.0% in the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock valued at $512,000 after purchasing an additional 3,212 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Disc Medicine by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock worth $799,000 after purchasing an additional 2,257 shares during the last quarter. Exome Asset Management LLC boosted its stake in Disc Medicine by 5.8% in the 3rd quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock valued at $3,170,000 after purchasing an additional 3,516 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Disc Medicine by 38.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company’s stock valued at $961,000 after purchasing an additional 5,458 shares during the period. 83.70% of the stock is 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.