Stifel Nicolaus Forecasts Strong Price Appreciation for Disc Medicine (NASDAQ:IRON) Stock

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

A number of other equities research analysts have also issued reports on IRON. Scotiabank boosted their target price on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. 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. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $88.90.

Disc Medicine Trading Up 0.8 %

Shares of NASDAQ IRON opened at $57.45 on Friday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The firm has a 50-day moving average of $62.62 and a two-hundred day moving average of $53.83. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -14.43 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released 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. As a group, research analysts predict that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In related news, CEO John D. Quisel sold 12,791 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the sale, the insider now directly owns 40,405 shares in the company, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,758 shares of company stock worth $5,400,990. 4.24% of the stock is currently owned by company insiders.

Institutional Trading of Disc Medicine

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after purchasing an additional 83,731 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares in the last quarter. State Street Corp lifted its position in shares of Disc Medicine by 39.7% during the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after buying an additional 235,115 shares during the period. Point72 Asset Management L.P. acquired a new stake in Disc Medicine in the 2nd quarter valued at $34,318,000. Finally, Janus Henderson Group PLC grew its position in Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after acquiring an additional 303,954 shares during the period. 83.70% of the stock is currently 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.