Disc Medicine (NASDAQ:IRON) PT Lowered to $50.00

Disc Medicine (NASDAQ:IRONGet Free Report) had its target price lowered by BMO Capital Markets from $80.00 to $50.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 63.93% from the company’s current price.

A number of other equities analysts have also recently weighed in on IRON. Wedbush reiterated an “outperform” rating and set a $43.00 price target (down from $84.00) on shares of Disc Medicine in a report on Monday. Raymond James reiterated an “outperform” rating and set a $40.00 price target (down from $75.00) on shares of Disc Medicine in a report on Monday. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Wednesday, December 20th. Finally, Morgan Stanley cut Disc Medicine from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $56.00 to $65.00 in a report on Tuesday, December 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Check Out Our Latest Stock Analysis on Disc Medicine

Disc Medicine Stock Down 4.8 %

Shares of NASDAQ:IRON opened at $30.50 on Tuesday. The business has a fifty day moving average of $63.53 and a two-hundred day moving average of $56.82. The stock has a market cap of $736.27 million, a P/E ratio of -8.74 and a beta of 0.18. Disc Medicine has a 52-week low of $20.05 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRONGet Free Report) last issued its earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, equities analysts anticipate that Disc Medicine will post -4.51 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kevin Bitterman sold 102,500 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $6,934,125.00. Following the transaction, the director now owns 198,326 shares of the company’s stock, valued at approximately $13,416,753.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 30,000 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $64.00, for a total value of $1,920,000.00. Following the sale, the insider now owns 1,449,686 shares of the company’s stock, valued at approximately $92,779,904. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Bitterman sold 102,500 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total value of $6,934,125.00. Following the completion of the sale, the director now directly owns 198,326 shares in the company, valued at approximately $13,416,753.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,000 shares of company stock valued at $13,347,500. Corporate insiders own 4.71% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently bought and sold shares of IRON. Strs Ohio acquired a new stake in Disc Medicine in the 3rd quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Disc Medicine in the 2nd quarter valued at about $28,000. Steward Partners Investment Advisory LLC raised its position in Disc Medicine by 50.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Bank of America Corp DE raised its position in Disc Medicine by 134,000.0% in the 1st quarter. Bank of America Corp DE now owns 2,682 shares of the company’s stock valued at $57,000 after purchasing an additional 2,680 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in Disc Medicine in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

About Disc Medicine

(Get Free Report)

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.

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