Disc Medicine (NASDAQ:IRON) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Disc Medicine (NASDAQ:IRON) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Morgan Stanley currently has $85.00 price objective on the stock.

IRON has been the subject of a number of other reports. Scotiabank assumed coverage on shares of Disc Medicine in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Wells Fargo & Company started 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. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $66.00 to $110.00 in a report on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a report on Monday, October 28th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $80.20.

Disc Medicine Stock Performance

Shares of NASDAQ IRON opened at $63.33 on Tuesday. The stock has a 50 day moving average price of $49.66 and a 200 day moving average price of $43.48. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -17.26 and a beta of 0.60. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.08. Analysts forecast that Disc Medicine will post -4.09 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Several large investors have recently bought and sold shares of IRON. Quest Partners LLC acquired a new stake in shares of Disc Medicine during the third quarter worth $131,000. China Universal Asset Management Co. Ltd. raised its stake in Disc Medicine by 96.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock worth $281,000 after acquiring an additional 2,813 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the last quarter. SG Americas Securities LLC lifted its position in Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after acquiring an additional 793 shares during the period. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in Disc Medicine during the 2nd quarter valued at about $636,000. 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.