Scotiabank Forecasts Strong Price Appreciation for Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine (NASDAQ:IRON) had its target price lifted by investment analysts at Scotiabank from $62.00 to $70.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 8.02% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Tuesday. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $66.00 to $110.00 in a research report on Monday. Wedbush restated an “outperform” rating and set a $75.00 target price (up previously from $60.00) on shares of Disc Medicine in a research report on Monday. Wells Fargo & Company began coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a report on Tuesday. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $80.20.

Disc Medicine Stock Performance

Shares of IRON stock opened at $64.80 on Tuesday. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The company’s fifty day moving average price is $49.06 and its 200-day moving average price is $43.19.

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

Insiders Place Their Bets

In other news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 7,538 shares of company stock valued at $437,875 in the last three months. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its stake in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine during the 2nd quarter worth about $129,000. SG Americas Securities LLC grew its holdings in Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after purchasing an additional 1,247 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Disc Medicine in the 1st quarter worth about $211,000. Institutional investors own 83.70% of the company’s stock.

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.