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

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

IRON has been the subject of several other research reports. Truist Financial initiated coverage on shares of Disc Medicine in a research report on Monday. They issued a “buy” rating and a $86.00 price target for the company. BMO Capital Markets raised their price objective on Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Morgan Stanley assumed coverage on Disc Medicine in a research report on Thursday, July 3rd. They set an “overweight” rating and a $85.00 target price on the stock. Raymond James Financial began coverage on Disc Medicine in a research report on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $95.73.

Disc Medicine Stock Performance

IRON stock opened at $59.38 on Monday. The stock’s fifty day moving average is $51.32 and its two-hundred day moving average is $51.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 37.65 and a current ratio of 37.65. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -15.15 and a beta of 0.76. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $68.73.

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

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 34,800 shares of Disc Medicine stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total value of $1,925,484.00. Following the transaction, the chief executive officer owned 161,828 shares in the company, valued at approximately $8,953,943.24. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean M. Franchi sold 2,031 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $59.00, for a total transaction of $119,829.00. Following the transaction, the chief financial officer directly owned 63,499 shares in the company, valued at $3,746,441. The trade was a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,804 shares of company stock valued at $3,140,575 over the last ninety days. Insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds have recently modified their holdings of IRON. Mirae Asset Global Investments Co. Ltd. raised its stake in Disc Medicine by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock valued at $71,000 after acquiring an additional 181 shares in the last quarter. Avanza Fonder AB bought a new stake in Disc Medicine during the second quarter worth $57,000. Atle Fund Management AB bought a new position in Disc Medicine in the 2nd quarter valued at about $1,306,000. Rhumbline Advisers grew its stake in Disc Medicine by 10.7% in the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock valued at $1,596,000 after buying an additional 3,108 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Disc Medicine in the first quarter valued at about $347,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.