Disc Medicine (NASDAQ:IRON) Given New $50.00 Price Target at BMO Capital Markets

Disc Medicine (NASDAQ:IRONFree Report) had its target price lowered by BMO Capital Markets from $80.00 to $50.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently commented on the stock. Morgan Stanley cut shares of Disc Medicine from an overweight rating to an equal weight rating and raised their target price for the stock from $56.00 to $65.00 in a report on Tuesday, December 19th. Cantor Fitzgerald reissued an overweight rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Wednesday, December 20th. HC Wainwright reissued a buy rating and issued a $70.00 price target on shares of Disc Medicine in a research report on Monday. Stifel Nicolaus reduced their price target on shares of Disc Medicine from $104.00 to $71.00 and set a buy rating for the company in a research report on Tuesday. Finally, Raymond James reissued an outperform rating and issued a $40.00 price target (down from $75.00) on shares of Disc Medicine in a research report on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $57.00.

Check Out Our Latest Research Report on Disc Medicine

Disc Medicine Stock Down 6.4 %

Shares of IRON opened at $32.04 on Tuesday. The firm has a 50-day moving average price of $64.16 and a 200 day moving average price of $57.00. The firm has a market capitalization of $773.32 million, a PE ratio of -9.18 and a beta of 0.18. Disc Medicine has a 52-week low of $20.05 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRONGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, equities analysts expect that Disc Medicine will post -4.37 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 30,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $64.00, for a total transaction of $1,920,000.00. Following the transaction, the insider now owns 1,449,686 shares in the company, valued at $92,779,904. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Venture Fund X. L.P. Atlas sold 30,000 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,920,000.00. Following the sale, the insider now owns 1,449,686 shares in the company, valued at $92,779,904. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kevin Bitterman sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $64.00, for a total transaction of $1,280,000.00. Following the completion of the sale, the director now owns 786,160 shares in the company, valued at approximately $50,314,240. The disclosure for this sale can be found here. Insiders have sold a total of 200,000 shares of company stock worth $13,347,500 over the last 90 days. Insiders own 4.71% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently bought and sold shares of IRON. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Disc Medicine by 12.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after acquiring an additional 145,781 shares during the period. Perceptive Advisors LLC lifted its holdings in shares of Disc Medicine by 14.2% during the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after acquiring an additional 127,404 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings in shares of Disc Medicine by 19.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after acquiring an additional 130,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Disc Medicine by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock valued at $44,160,000 after acquiring an additional 99,092 shares during the period. Finally, Citadel Advisors LLC lifted its holdings in shares of Disc Medicine by 280.4% during the second quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock valued at $28,919,000 after acquiring an additional 480,082 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Company Profile

(Get Free Report)

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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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Analyst Recommendations for Disc Medicine (NASDAQ:IRON)

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