Disc Medicine (NASDAQ:IRON) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a report released on Tuesday,Benzinga reports. They currently have a $118.00 price objective on the stock.

Several other research firms have also issued reports on IRON. BMO Capital Markets boosted their price target on Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday. Cantor Fitzgerald boosted their price target on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. TD Cowen assumed coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a “buy” rating on the stock. Finally, Scotiabank boosted 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. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $96.70.

Disc Medicine Stock Down 3.8%

Shares of NASDAQ:IRON opened at $50.05 on Tuesday. The stock has a fifty day simple moving average of $46.44 and a two-hundred day simple moving average of $53.08. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -12.77 and a beta of 0.73. Disc Medicine has a 12-month low of $30.82 and a 12-month high of $68.73. The company has a current ratio of 37.65, a quick ratio of 37.65 and a debt-to-equity ratio of 0.04.

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

Insiders Place Their Bets

In related news, Director Mona Ashiya sold 5,738 shares of Disc Medicine stock in a transaction that occurred 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 completion of the sale, the director now owns 186,541 shares in the company, valued at approximately $10,093,733.51. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Jacob Savage sold 6,677 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total transaction of $334,117.08. Following the transaction, the insider now owns 59,721 shares of the company’s stock, valued at approximately $2,988,438.84. The trade was a 10.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,522 shares of company stock valued at $1,440,351 in the last ninety days. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Disc Medicine by 10.7% during the first quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock worth $1,596,000 after acquiring an additional 3,108 shares during the period. Strs Ohio acquired a new position in Disc Medicine during the first quarter worth about $347,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Disc Medicine by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock worth $4,793,000 after buying an additional 3,454 shares during the period. Woodline Partners LP grew its position in Disc Medicine by 26.6% during the first quarter. Woodline Partners LP now owns 502,230 shares of the company’s stock worth $24,931,000 after buying an additional 105,630 shares during the period. Finally, Zimmer Partners LP grew its position in Disc Medicine by 29.6% during the first quarter. Zimmer Partners LP now owns 42,900 shares of the company’s stock worth $2,130,000 after buying an additional 9,800 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.