Stifel Nicolaus Issues Positive Forecast for Disc Medicine (NASDAQ:IRON) Stock Price

Disc Medicine (NASDAQ:IRON) had its price objective increased by Stifel Nicolaus from $90.00 to $94.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 64.91% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Tuesday. Scotiabank increased their price target on shares of Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Jefferies Financial Group started coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $88.90.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded up $0.01 during trading on Friday, hitting $57.00. The stock had a trading volume of 65,704 shares, compared to its average volume of 468,005. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The company has a market capitalization of $1.70 billion, a PE ratio of -14.34 and a beta of 0.75. The firm has a fifty day moving average of $62.66 and a two-hundred day moving average of $53.72.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, equities analysts expect that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John D. Quisel sold 12,791 shares of Disc Medicine stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after purchasing an additional 593 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Disc Medicine by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after purchasing an additional 771 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after purchasing an additional 793 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.