BMO Capital Markets Issues Positive Forecast for Disc Medicine (NASDAQ:IRON) Stock Price

Disc Medicine (NASDAQ:IRON) had its target price hoisted by BMO Capital Markets from $112.00 to $120.00 in a report issued on Monday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other research firms have also commented on IRON. Scotiabank raised their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Stifel Nicolaus increased their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald increased their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Ten 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.com, Disc Medicine currently has a consensus rating of “Buy” and an average price target of $98.80.

Disc Medicine Stock Performance

NASDAQ IRON opened at $46.61 on Monday. Disc Medicine has a one year low of $30.65 and a one year high of $68.73. The company’s 50 day moving average price is $46.72 and its 200 day moving average price is $54.99. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -11.71 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last posted 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). Sell-side analysts forecast that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, insider William Jacob Savage sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00. Following the completion of the sale, the insider now owns 66,398 shares of the company’s stock, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 202,146 shares of the firm’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 transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 356,290 shares of company stock valued at $19,336,901. 4.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently added to or reduced their stakes in IRON. Sterling Capital Management LLC lifted its stake in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 503 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Disc Medicine by 38.6% during the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after acquiring an additional 219 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Disc Medicine during the fourth quarter valued at $40,000. Tower Research Capital LLC TRC boosted its holdings in shares of Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Disc Medicine during the fourth quarter valued at $235,000. 83.70% of the stock is currently 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.