Disc Medicine (NASDAQ:IRON) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of Disc Medicine (NASDAQ:IRON) in a research report sent to investors on Tuesday,RTT News reports. Wedbush currently has a $90.00 price objective on the stock, up from their prior price objective of $83.00.

IRON has been the subject of several other reports. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. 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. Stifel Nicolaus lifted their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Monday, December 9th. Nine 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, the stock has a consensus rating of “Buy” and a consensus price target of $88.20.

Disc Medicine Stock Up 3.9 %

Shares of IRON stock opened at $60.52 on Tuesday. The firm has a 50 day moving average price of $62.82 and a two-hundred day moving average price of $53.66. The company has a market capitalization of $1.80 billion, a PE ratio of -15.21 and a beta of 0.75. 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, topping the consensus estimate of ($1.04) by $0.15. As a group, research analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insiders Place Their Bets

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the sale, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the sale, the chief executive officer now owns 72,065 shares of the company’s stock, valued at $4,757,010.65. The trade was a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,758 shares of company stock worth $5,400,990 over the last three months. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after buying an additional 83,731 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 123.5% during 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 buying an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C increased its holdings in shares of Disc Medicine by 53.8% during 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 buying an additional 357,730 shares in the last quarter. Logos Global Management LP acquired a new position in shares of Disc Medicine during the second quarter worth $41,690,000. Finally, State Street Corp increased its holdings in shares of Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after buying an additional 235,115 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.