Disc Medicine (NASDAQ:IRON) Given New $40.00 Price Target at Morgan Stanley

Disc Medicine (NASDAQ:IRONFree Report) had its target price reduced by Morgan Stanley from $75.00 to $40.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently commented on IRON. Wedbush reaffirmed an outperform rating and set a $43.00 price objective (down previously from $84.00) on shares of Disc Medicine in a research note on Monday. BMO Capital Markets reduced their price objective on shares of Disc Medicine from $80.00 to $50.00 and set an outperform rating for the company in a research note on Tuesday. Cantor Fitzgerald reaffirmed an overweight rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Wednesday, December 20th. Raymond James reaffirmed an outperform rating and set a $40.00 price objective (down previously from $75.00) on shares of Disc Medicine in a research note on Monday. Finally, Stifel Nicolaus dropped their target price on shares of Disc Medicine from $104.00 to $71.00 and set a buy rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $57.00.

Get Our Latest Stock Analysis on Disc Medicine

Disc Medicine Stock Down 6.4 %

IRON opened at $32.04 on Tuesday. The company has a market capitalization of $773.32 million, a price-to-earnings ratio of -9.18 and a beta of 0.18. The firm has a 50-day moving average price of $64.16 and a 200-day moving average price of $57.00. Disc Medicine has a twelve month low of $20.05 and a twelve month high of $77.60.

Disc Medicine (NASDAQ:IRONGet Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, sell-side analysts expect that Disc Medicine will post -4.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, Director Kevin Bitterman sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the sale, the director now directly owns 786,160 shares of the company’s stock, valued at approximately $50,314,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kevin Bitterman sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the sale, the director now directly owns 786,160 shares of the company’s stock, valued at approximately $50,314,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the completion of the transaction, the insider now owns 1,402,186 shares in the company, valued at approximately $94,857,882.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,000 shares of company stock valued at $13,347,500. 4.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in Disc Medicine during the 3rd quarter valued at about $28,000. Steward Partners Investment Advisory LLC lifted its stake in Disc Medicine by 50.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Ameritas Investment Partners Inc. bought a new position in Disc Medicine during the 2nd quarter valued at about $28,000. AJOVista LLC bought a new position in Disc Medicine during the 4th quarter valued at about $63,000. Finally, Tower Research Capital LLC TRC lifted its stake in Disc Medicine by 666.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the company’s stock valued at $135,000 after acquiring an additional 2,034 shares during the period. Institutional investors 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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