Disc Medicine’s (IRON) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $118.00 price objective on the stock.

A number of other research analysts have also recently issued reports on IRON. Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday. Scotiabank lifted their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group started coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $88.20.

Disc Medicine Trading Up 3.9 %

NASDAQ:IRON opened at $60.52 on Tuesday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -15.21 and a beta of 0.75. The firm has a fifty day simple moving average of $62.82 and a two-hundred day simple moving average of $53.66. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Equities analysts predict that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Disc Medicine news, insider William Jacob Savage sold 9,158 shares of Disc Medicine stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Richard White sold 1,957 shares of Disc Medicine stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,758 shares of company stock valued at $5,400,990. Company insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently modified their holdings of IRON. Frazier Life Sciences Management L.P. increased its stake in shares of 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 worth $79,090,000 after purchasing an additional 969,834 shares in the last quarter. Logos Global Management LP purchased a new position in shares of Disc Medicine in the second quarter worth about $41,690,000. Point72 Asset Management L.P. purchased a new position in shares of Disc Medicine in the second quarter worth about $34,318,000. Deerfield Management Company L.P. Series C increased its stake in shares of Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after purchasing an additional 357,730 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after purchasing an additional 303,954 shares in the last quarter. Hedge funds and other 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.