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

Disc Medicine (NASDAQ:IRON) had its target price boosted by equities research analysts at Cantor Fitzgerald from $132.00 to $153.00 in a research note issued to investors on Friday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 70.11% from the stock’s current price.

IRON has been the subject of several other research reports. Morgan Stanley boosted their price objective on Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Raymond James Financial boosted their target price on Disc Medicine from $89.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Friday. Wedbush boosted their target price on Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial began coverage on Disc Medicine in a research report on Monday, July 21st. They issued a “buy” rating and a $86.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.73.

Disc Medicine Stock Up 21.0%

Shares of NASDAQ IRON opened at $89.94 on Friday. Disc Medicine has a 12 month low of $30.82 and a 12 month high of $95.95. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -20.12 and a beta of 0.80. The business has a 50-day moving average of $63.69 and a 200-day moving average of $54.76.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). Sell-side analysts expect that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Disc Medicine news, Director Kevin Bitterman sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $88.91, for a total value of $6,223,700.00. Following the completion of the sale, the director owned 385,549 shares in the company, valued at approximately $34,279,161.59. The trade was a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 269,803 shares of company stock valued at $19,622,192 in the last ninety days. Insiders own 3.64% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Disc Medicine by 67.9% during the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock valued at $116,331,000 after acquiring an additional 948,094 shares in the last quarter. RA Capital Management L.P. bought a new position in shares of Disc Medicine during the first quarter valued at approximately $78,288,000. Vanguard Group Inc. raised its holdings in shares of Disc Medicine by 22.2% during the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company’s stock valued at $64,782,000 after acquiring an additional 236,800 shares in the last quarter. Siren L.L.C. bought a new position in shares of Disc Medicine during the first quarter valued at approximately $53,207,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Disc Medicine by 11.1% during the second quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company’s stock valued at $44,678,000 after acquiring an additional 84,278 shares in the last quarter. 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.