Morgan Stanley Upgrades Disc Medicine (NASDAQ:IRON) to Overweight

Disc Medicine (NASDAQ:IRON) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a $85.00 target price on the stock. Morgan Stanley’s target price suggests a potential upside of 31.17% from the company’s previous close.

IRON has been the topic of several other research reports. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $66.00 to $110.00 in a report on Monday. Wells Fargo & Company began coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank began coverage on shares of Disc Medicine in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $80.20.

Disc Medicine Trading Up 0.0 %

Shares of Disc Medicine stock opened at $64.80 on Tuesday. The company has a 50-day simple moving average of $49.06 and a two-hundred day simple moving average of $43.19. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, sell-side analysts anticipate that Disc Medicine will post -4.09 earnings per share for the current year.

Insiders Place Their Bets

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 7,538 shares of company stock worth $437,875. Corporate insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds have recently bought and sold shares of IRON. Amalgamated Bank boosted its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine during the 2nd quarter valued at approximately $129,000. SG Americas Securities LLC lifted its position in shares of Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after buying an additional 1,247 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Disc Medicine during the 1st quarter valued at approximately $211,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.