Disc Medicine (NASDAQ:IRON) Price Target Raised to $120.00 at BMO Capital Markets

Disc Medicine (NASDAQ:IRON) had its price target increased by stock analysts at BMO Capital Markets from $112.00 to $120.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 158.90% from the stock’s current price.

A number of other research firms have also recently issued reports on IRON. Morgan Stanley restated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. TD Cowen assumed coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus boosted their price target on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Cantor Fitzgerald boosted their price target on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Finally, HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $98.80.

Disc Medicine Stock Down 0.6%

Shares of IRON stock opened at $46.35 on Monday. The company has a 50 day moving average of $46.54 and a 200-day moving average of $54.93. Disc Medicine has a 12-month low of $30.65 and a 12-month high of $68.73. The firm has a market cap of $1.60 billion, a P/E ratio of -11.65 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, equities analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mona Ashiya sold 202,146 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $54.29, for a total value of $10,974,506.34. Following the sale, the director now directly owns 208,742 shares of the company’s stock, valued at $11,332,603.18. The trade was a 49.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 1,610 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 value of $87,873.80. Following the completion of the sale, the chief operating officer now directly owns 40,555 shares in the company, valued at approximately $2,213,491.90. This represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 356,290 shares of company stock worth $19,336,901. Company insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

A number of hedge funds have recently made changes to their positions in IRON. Northern Trust Corp lifted its position in Disc Medicine by 11.7% in the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock valued at $10,365,000 after acquiring an additional 21,796 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Disc Medicine by 13,428.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock valued at $47,000 after buying an additional 940 shares during the period. Nuveen LLC bought a new position in shares of Disc Medicine during the 1st quarter valued at $5,595,000. Invesco Ltd. lifted its holdings in shares of Disc Medicine by 27.1% during the 1st quarter. Invesco Ltd. now owns 13,834 shares of the company’s stock valued at $687,000 after buying an additional 2,953 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Disc Medicine by 11.5% during the 1st quarter. Swiss National Bank now owns 35,900 shares of the company’s stock valued at $1,782,000 after buying an additional 3,700 shares during the period. 83.70% of the stock is owned by institutional investors.

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.