Disc Medicine (NASDAQ:IRON – Get Free Report) had its price objective raised by equities researchers at HC Wainwright from $120.00 to $127.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright‘s price objective would suggest a potential upside of 61.85% from the company’s previous close.
Several other analysts also recently commented on IRON. Truist Financial upped their price objective on Disc Medicine from $83.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, October 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Thursday, October 15th. Wall Street Zen lowered Disc Medicine from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Jefferies Financial Group restated a “buy” rating and set a $149.00 price target on shares of Disc Medicine in a research note on Wednesday, October 21st. Finally, Cantor Fitzgerald increased their price target on Disc Medicine from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $123.40.
Get Our Latest Analysis on Disc Medicine
Disc Medicine Trading Down 5.8%
Shares of Disc Medicine stock opened at $78.47 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The company has a market capitalization of $3.01 billion, a P/E ratio of -11.93 and a beta of 0.96. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50. The company’s fifty day moving average is $71.28 and its two-hundred day moving average is $70.91.
Disc Medicine (NASDAQ:IRON – Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($1.53) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.10. Analysts forecast that Disc Medicine will post -6.61 earnings per share for the current year.
Insider Activity at Disc Medicine
In other news, Director Kevin Bitterman sold 25,519 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $80.23, for a total transaction of $2,047,389.37. Following the completion of the transaction, the director directly owned 12,991 shares of the company’s stock, valued at approximately $1,042,267.93. This represents a 66.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Yu sold 8,796 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total value of $731,123.52. Following the completion of the sale, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at $4,515,410.88. This represents a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 168,046 shares of company stock worth $13,191,034 over the last 90 days. Company insiders own 3.76% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of Disc Medicine during the 2nd quarter worth $1,350,000. Bank of America Corp DE acquired a new position in shares of Disc Medicine during the 2nd quarter worth $9,882,000. Opaleye Management Inc. grew its stake in shares of Disc Medicine by 103.1% during the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after purchasing an additional 434,000 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Disc Medicine by 139.3% in the 2nd quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock valued at $5,549,000 after purchasing an additional 44,163 shares in the last quarter. Finally, BlackRock Inc. purchased a new position in shares of Disc Medicine in the 2nd quarter valued at about $180,502,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.
About Disc Medicine
Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.
The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.
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