Disc Medicine (NASDAQ:IRON) Price Target Raised to $118.00 at HC Wainwright

Disc Medicine (NASDAQ:IRON) had its price objective boosted by HC Wainwright from $70.00 to $118.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 87.72% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. 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 research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Tuesday, October 15th. Wedbush reiterated an “outperform” rating and set a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a report on Tuesday. Finally, Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Stock Performance

Shares of Disc Medicine stock traded down $0.40 during trading on Wednesday, hitting $62.86. The company’s stock had a trading volume of 163,817 shares, compared to its average volume of 355,698. The company has a fifty day simple moving average of $50.53 and a two-hundred day simple moving average of $44.51. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The company has a market capitalization of $1.87 billion, a PE ratio of -15.61 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15. As a group, analysts predict that Disc Medicine will post -4.15 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new position in shares of Disc Medicine during the 1st quarter worth about $7,429,000. Price T Rowe Associates Inc. MD increased its stake in shares of Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after purchasing an additional 353,382 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Disc Medicine in the second quarter valued at approximately $34,318,000. Frazier Life Sciences Management L.P. lifted its holdings in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the last quarter. Finally, Blue Owl Capital Holdings LP grew its position in shares of Disc Medicine by 38.6% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock valued at $9,702,000 after buying an additional 60,000 shares during the last quarter. 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.