Disc Medicine (NASDAQ:IRON) Given New $70.00 Price Target at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price objective increased by Scotiabank from $62.00 to $70.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other analysts also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. 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 research report on Monday. Jefferies Financial Group initiated coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $75.00 target price (up previously from $60.00) on shares of Disc Medicine in a research report on Monday. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $80.20.

Disc Medicine Trading Up 11.2 %

Shares of Disc Medicine stock opened at $64.78 on Tuesday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -17.65 and a beta of 0.60. The company has a fifty day moving average price of $48.75 and a 200 day moving average price of $42.93.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. Analysts forecast that Disc Medicine will post -4.09 earnings per share for the current year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 7,538 shares of company stock worth $437,875 in the last 90 days. 4.24% of the stock is currently owned by company insiders.

Institutional Trading of Disc Medicine

Several hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Disc Medicine by 96.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock valued at $281,000 after buying an additional 2,813 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Disc Medicine by 45.7% during the third 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 in the last quarter. SG Americas Securities LLC lifted its holdings in Disc Medicine by 19.5% in the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after purchasing an additional 793 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Disc Medicine in the 2nd quarter valued at about $636,000. Finally, Nantahala Capital Management LLC acquired a new position in Disc Medicine during the 2nd quarter valued at about $6,760,000. 83.70% of the stock is currently owned by institutional investors.

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.