Disc Medicine’s (IRON) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Disc Medicine (NASDAQ:IRON) in a research report released on Monday,RTT News reports. The brokerage currently has a $90.00 price objective on the stock.

A number of other equities analysts have also weighed in on the company. Raymond James initiated coverage on Disc Medicine in a research note on Wednesday, June 11th. They issued a “strong-buy” rating and a $89.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Cantor Fitzgerald increased their price objective on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Scotiabank increased their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Finally, TD Cowen initiated coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating for the company. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine has a consensus rating of “Buy” and a consensus target price of $96.70.

Disc Medicine Stock Down 3.1%

Shares of NASDAQ IRON opened at $52.02 on Monday. The firm has a market capitalization of $1.80 billion, a P/E ratio of -13.07 and a beta of 0.73. The stock’s 50-day simple moving average is $46.21 and its two-hundred day simple moving average is $53.11. Disc Medicine has a twelve month low of $30.82 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). As a group, research analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity

In other Disc Medicine news, insider William Jacob Savage sold 2,996 shares of Disc Medicine stock in a transaction on Friday, June 6th. The stock was sold at an average price of $50.00, for a total transaction of $149,800.00. Following the completion of the transaction, the insider now owns 56,725 shares in the company, valued at approximately $2,836,250. The trade was a 5.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 5,738 shares of Disc Medicine stock in a transaction on Monday, March 24th. The shares were sold at an average price of $54.11, for a total value of $310,483.18. Following the transaction, the director now owns 186,541 shares of the company’s stock, valued at $10,093,733.51. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,178 shares of company stock worth $3,582,568 in the last quarter. 4.24% of the stock is owned by company insiders.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank grew its holdings in Disc Medicine by 38.6% during the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after purchasing an additional 219 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after buying an additional 266 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Disc Medicine by 8.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock worth $308,000 after buying an additional 396 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock worth $264,000 after buying an additional 590 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.