Disc Medicine (NASDAQ:IRON) Earns Buy Rating from Analysts at TD Cowen

TD Cowen initiated coverage on shares of Disc Medicine (NASDAQ:IRON) in a research note released on Thursday, MarketBeat.com reports. The firm issued a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Scotiabank upped their price objective on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. Stifel Nicolaus increased their target price on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $88.90.

Disc Medicine Trading Up 0.1 %

Shares of IRON stock opened at $54.50 on Thursday. The firm’s 50 day moving average is $58.25 and its 200-day moving average is $55.44. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -13.69 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. On average, equities research analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the sale, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This trade 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, insider Pamela Stephenson sold 3,137 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the completion of the sale, the insider now directly owns 69,529 shares in the company, valued at approximately $3,794,892.82. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,037 shares of company stock valued at $4,650,001. Company insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its holdings in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after acquiring an additional 503 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its position in Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares during the period. Mirae Asset Global Investments Co. Ltd. increased 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 valued at $54,000 after purchasing an additional 337 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Disc Medicine in the third quarter valued at about $131,000. 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.