Analysts Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $88.90

Disc Medicine, Inc. (NASDAQ:IRON) has earned an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $88.90.

A number of research firms have issued reports on IRON. Stifel Nicolaus increased their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. HC Wainwright reissued a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Scotiabank upped their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. Finally, Wedbush restated an “outperform” rating and issued a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st.

Insider Transactions at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 5,574 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $304,228.92. Following the completion of the sale, the chief executive officer now directly owns 154,828 shares of the company’s stock, valued at approximately $8,450,512.24. The trade was a 3.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Richard White sold 1,957 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The disclosure for this sale can be found here. Insiders sold a total of 76,037 shares of company stock valued at $4,650,001 over the last three months. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after acquiring an additional 503 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Disc Medicine during the fourth quarter worth about $40,000. Tower Research Capital LLC TRC grew its position in Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Disc Medicine during the 3rd quarter worth approximately $131,000. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $53.53 on Friday. The stock’s 50-day moving average is $58.59 and its 200 day moving average is $55.45. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -13.45 and a beta of 0.73.

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.