Disc Medicine (NASDAQ:IRON) Upgraded to Strong-Buy at Raymond James

Disc Medicine (NASDAQ:IRON) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Monday, MarketBeat reports. The firm currently has a $110.00 price target on the stock, up from their prior price target of $66.00. Raymond James’ price objective points to a potential upside of 69.82% from the stock’s previous close.

IRON has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Monday, October 28th. Scotiabank began coverage on shares of Disc Medicine in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 price objective for the company. Wells Fargo & Company began 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. Finally, Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Buy” and a consensus price target of $80.20.

Disc Medicine Stock Performance

Shares of IRON opened at $64.78 on Monday. The company has a 50-day simple moving average of $48.75 and a 200-day simple moving average of $42.93. The firm 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 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. As a group, equities analysts forecast that Disc Medicine will post -4.09 earnings per share for the current year.

Insiders Place Their Bets

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 7,538 shares of company stock valued at $437,875. 4.24% of the stock is currently owned by insiders.

Institutional Trading of Disc Medicine

Several hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Disc Medicine in the first quarter valued at approximately $7,429,000. Jennison Associates LLC boosted its stake in Disc Medicine by 349.1% in the first quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock valued at $12,031,000 after acquiring an additional 150,209 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Disc Medicine in the second quarter valued at approximately $34,318,000. Finally, Frazier Life Sciences Management L.P. boosted its stake in Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after acquiring an additional 969,834 shares during the last quarter. 83.70% of the stock is owned by institutional investors.

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.