Disc Medicine (NASDAQ:IRON) Price Target Raised to $79.00

Disc Medicine (NASDAQ:IRON) had its target price lifted by Wells Fargo & Company from $78.00 to $79.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus dropped their price objective on shares of Disc Medicine from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Raymond James Financial reissued a “market perform” rating on shares of Disc Medicine in a report on Thursday, January 15th. Wedbush reduced their price objective on Disc Medicine from $110.00 to $88.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Truist Financial decreased their target price on Disc Medicine from $114.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Morgan Stanley set a $75.00 price target on Disc Medicine in a report on Tuesday, February 17th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.80.

Disc Medicine Stock Performance

IRON opened at $61.10 on Monday. The company has a quick ratio of 23.45, a current ratio of 21.94 and a debt-to-equity ratio of 0.04. Disc Medicine has a 12-month low of $30.82 and a 12-month high of $99.50. The business has a 50 day moving average of $73.48 and a 200-day moving average of $75.59. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -10.20 and a beta of 0.87.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.69) by $0.07. The business had revenue of ($19.88) million for the quarter, compared to analyst estimates of $0.15 million. On average, equities research analysts expect that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, CEO John D. Quisel sold 40,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $93.05, for a total transaction of $3,722,000.00. Following the completion of the sale, the chief executive officer directly owned 171,828 shares in the company, valued at approximately $15,988,595.40. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Jacob Savage sold 13,093 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $91.22, for a total value of $1,194,343.46. Following the completion of the transaction, the insider directly owned 75,702 shares of the company’s stock, valued at approximately $6,905,536.44. This trade represents a 14.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 292,492 shares of company stock worth $25,423,925. Corporate insiders own 3.64% of the company’s stock.

Institutional Trading of Disc Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. increased its stake in Disc Medicine by 25.3% in the fourth quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock valued at $156,925,000 after acquiring an additional 399,026 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Disc Medicine by 22.1% in the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company’s stock valued at $140,371,000 after purchasing an additional 319,621 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Disc Medicine by 28.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,698,005 shares of the company’s stock valued at $134,839,000 after purchasing an additional 371,576 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Disc Medicine by 110.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock worth $125,557,000 after buying an additional 828,248 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Disc Medicine by 7.7% during the 4th quarter. Wellington Management Group LLP now owns 1,518,274 shares of the company’s stock worth $120,566,000 after buying an additional 108,197 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.