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

Wedbush reissued their outperform rating on shares of Disc Medicine (NASDAQ:IRON) in a research note issued to investors on Monday morning,RTT News reports. They currently have a $83.00 price objective on the stock.

Other analysts also recently issued research reports about the company. Scotiabank boosted their target price on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a report on Monday. 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 objective on the stock. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Buy” and an average price target of $85.80.

Disc Medicine Trading Down 0.2 %

IRON stock opened at $64.66 on Monday. The firm has a 50 day moving average of $55.96 and a 200-day moving average of $48.83. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The firm has a market capitalization of $1.92 billion, a P/E ratio of -16.25 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results 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. Sell-side analysts predict that Disc Medicine will post -4.05 EPS for the current year.

Insider Transactions at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the sale, the insider now directly owns 40,405 shares in the company, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Richard White sold 1,957 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The disclosure for this sale can be found here. Insiders sold 32,836 shares of company stock worth $2,038,816 over the last quarter. 4.24% of the stock is currently owned by insiders.

Institutional Trading of Disc Medicine

A number of hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after buying an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Disc Medicine during the second quarter valued at approximately $129,000. Quest Partners LLC purchased a new stake in Disc Medicine during the third quarter valued at approximately $131,000. Finally, Quantbot Technologies LP purchased a new stake in Disc Medicine during the third quarter valued at approximately $146,000. 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.