Disc Medicine (NASDAQ:IRON) Given New $118.00 Price Target at HC Wainwright

Disc Medicine (NASDAQ:IRON) had its price target increased by HC Wainwright from $70.00 to $118.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently commented on IRON. Wedbush restated an “outperform” rating and issued a $83.00 target price (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Jefferies Financial Group assumed coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $85.80.

Disc Medicine Trading Down 0.3 %

Shares of NASDAQ IRON opened at $63.06 on Wednesday. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -15.84 and a beta of 0.60. The stock’s 50 day simple moving average is $50.81 and its 200 day simple moving average is $44.64.

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

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 7,538 shares of company stock valued at $437,875 over the last three months. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IRON. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Disc Medicine by 21.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,649 shares of the company’s stock worth $916,000 after acquiring an additional 3,312 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Disc Medicine by 18.0% in the 3rd quarter. MetLife Investment Management LLC now owns 11,377 shares of the company’s stock valued at $559,000 after purchasing an additional 1,735 shares during the period. Quantbot Technologies LP purchased a new position in Disc Medicine in the 3rd quarter worth about $146,000. The Manufacturers Life Insurance Company raised its holdings in Disc Medicine by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after buying an additional 771 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Disc Medicine by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after buying an additional 19,401 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

About Disc Medicine

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.