Disc Medicine’s (IRON) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research note released on Tuesday,Benzinga reports. They currently have a $118.00 price target on the stock.

Several other research firms also recently commented on IRON. Scotiabank increased their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. Wedbush restated an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $66.00 to $110.00 in a report on Monday, November 4th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $88.50.

Disc Medicine Stock Down 2.6 %

Shares of NASDAQ IRON opened at $56.99 on Tuesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -14.32 and a beta of 0.75. The company’s 50-day simple moving average is $62.66 and its 200-day simple moving average is $53.72. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted 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. Equities research analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.01, for a total value of $844,333.91. Following the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 14,035 shares of the company’s stock, valued at $880,696.25. The trade was a 34.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,758 shares of company stock worth $5,400,990 over the last quarter. 4.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Disc Medicine by 66.0% during the 4th quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock worth $512,000 after acquiring an additional 3,212 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Disc Medicine by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock worth $799,000 after purchasing an additional 2,257 shares in the last quarter. Exome Asset Management LLC boosted its stake in shares of Disc Medicine by 5.8% in the third quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock valued at $3,170,000 after purchasing an additional 3,516 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Disc Medicine by 38.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company’s stock valued at $961,000 after purchasing an additional 5,458 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Disc Medicine by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after buying an additional 70,983 shares during the period. 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.