Disc Medicine’s (IRON) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $118.00 price target on the stock.

Several other analysts have also commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Wedbush restated an “outperform” rating and issued a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research note on Tuesday. Morgan Stanley raised 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. Stifel Nicolaus raised their price objective on Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Scotiabank upped their target price on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $88.50.

Disc Medicine Stock Performance

NASDAQ IRON opened at $56.99 on Tuesday. The company has a market cap of $1.70 billion, a PE ratio of -14.32 and a beta of 0.75. The firm’s 50 day moving average price is $62.66 and its 200-day moving average price 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 announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In other news, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the sale, the chief executive officer now owns 72,065 shares in the company, valued at $4,757,010.65. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Insiders have sold a total of 85,758 shares of company stock worth $5,400,990 over the last quarter. 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 the stock. Amalgamated Bank lifted its stake in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 buying an additional 337 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after acquiring an additional 771 shares during the period. SG Americas Securities LLC boosted its stake in shares of 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 in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Disc Medicine by 18.0% during the 3rd quarter. MetLife Investment Management LLC now owns 11,377 shares of the company’s stock valued at $559,000 after acquiring an additional 1,735 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.