Disc Medicine (NASDAQ:IRON) Given New $70.00 Price Target at Scotiabank

Disc Medicine (NASDAQ:IRON) had its price target increased by Scotiabank from $62.00 to $70.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 8.07% from the stock’s previous close.

IRON has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research report on Tuesday. Finally, Wells Fargo & Company started coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $80.20.

Disc Medicine Stock Performance

Shares of NASDAQ IRON traded up $6.53 during midday trading on Tuesday, reaching $64.78. 894,960 shares of the stock were exchanged, compared to its average volume of 355,030. The company has a 50 day simple moving average of $48.75 and a 200 day simple moving average of $42.93. The stock has a market capitalization of $1.93 billion, a P/E ratio of -17.65 and a beta of 0.60. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.11) by $0.08. On average, research analysts expect that Disc Medicine will post -4.09 earnings per share for the current year.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors have recently modified their holdings of IRON. Amalgamated Bank lifted its position in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Disc Medicine in the second quarter valued at $129,000. SG Americas Securities LLC lifted its position in Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after acquiring an additional 1,247 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Disc Medicine in the first quarter valued at $211,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Company Profile

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.