Disc Medicine (NASDAQ:IRON) Earns Overweight Rating from Morgan Stanley

Disc Medicine (NASDAQ:IRON)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a note issued to investors on Friday,Benzinga reports. They presently have a $85.00 target price on the stock. Morgan Stanley’s price objective would suggest a potential upside of 53.23% from the company’s previous close.

IRON has been the topic of a number of other research reports. Stifel Nicolaus raised their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. TD Cowen started coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a “buy” rating on the stock. Wedbush reiterated an “outperform” rating and set a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Scotiabank boosted their price target on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $89.10.

Disc Medicine Stock Down 0.0 %

Shares of NASDAQ:IRON traded down $0.03 during midday trading on Friday, hitting $55.47. 74,292 shares of the stock traded hands, compared to its average volume of 373,827. Disc Medicine has a one year low of $25.60 and a one year high of $68.86. The stock has a market capitalization of $1.65 billion, a PE ratio of -13.91 and a beta of 0.73. The business’s 50 day moving average is $57.33 and its two-hundred day moving average is $55.75.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.08. As a group, sell-side analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.54, for a total value of $416,550.00. Following the sale, the insider now directly owns 14,035 shares in the company, valued at $779,503.90. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John D. Quisel sold 19,820 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total value of $1,251,434.80. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,080 shares of company stock valued at $4,523,520. 4.24% of the stock is owned by corporate insiders.

Institutional Trading of Disc Medicine

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Disc Medicine by 8.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock valued at $308,000 after purchasing an additional 396 shares during the period. Sterling Capital Management LLC grew its stake in shares of Disc Medicine by 798.4% during the fourth 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. China Universal Asset Management Co. Ltd. increased its holdings in Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after purchasing an additional 593 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Disc Medicine in the fourth quarter worth about $40,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Company Profile

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.