Wells Fargo & Company Raises Disc Medicine (NASDAQ:IRON) Price Target to $79.00

Disc Medicine (NASDAQ:IRON) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $78.00 to $79.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 22.75% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on IRON. Wedbush reduced their price target on shares of Disc Medicine from $110.00 to $88.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Raymond James Financial reiterated a “market perform” rating on shares of Disc Medicine in a research report on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of Disc Medicine in a report on Friday, December 19th. BMO Capital Markets decreased their target price on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Finally, UBS Group reaffirmed an “overweight” rating on shares of Disc Medicine in a research report on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Disc Medicine currently has an average rating of “Moderate Buy” and an average target price of $104.80.

Disc Medicine Stock Performance

Shares of IRON opened at $64.36 on Monday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -10.74 and a beta of 0.87. Disc Medicine has a 52-week low of $30.82 and a 52-week high of $99.50. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $73.86 and a 200 day moving average price of $75.69.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.69) by $0.07. The company had revenue of ($19.88) million for the quarter, compared to analyst estimates of $0.15 million. Research analysts predict that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Rahul Khara sold 2,853 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total transaction of $179,339.58. Following the completion of the sale, the insider owned 52,173 shares in the company, valued at $3,279,594.78. This represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Jacob Savage sold 3,256 shares of Disc Medicine stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $62.86, for a total transaction of $204,672.16. Following the completion of the transaction, the insider owned 92,589 shares in the company, valued at approximately $5,820,144.54. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 285,114 shares of company stock worth $24,937,862 over the last quarter. 3.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently bought and sold shares of IRON. JPMorgan Chase & Co. boosted its holdings in shares of Disc Medicine by 110.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock valued at $125,557,000 after acquiring an additional 828,248 shares in the last quarter. BVF Inc. IL acquired a new stake in Disc Medicine in the fourth quarter valued at about $51,616,000. Jennison Associates LLC acquired a new position in Disc Medicine during the 4th quarter worth approximately $42,252,000. Perceptive Advisors LLC purchased a new position in shares of Disc Medicine during the 4th quarter worth approximately $35,794,000. Finally, RA Capital Management L.P. lifted its holdings in shares of Disc Medicine by 25.3% in the 4th quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock valued at $156,925,000 after buying an additional 399,026 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.