Disc Medicine (NASDAQ:IRON) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a report released on Friday morning, Benzinga reports. HC Wainwright currently has a $70.00 price objective on the stock.

IRON has been the subject of several other reports. Raymond James increased their target price on shares of Disc Medicine from $40.00 to $43.00 and gave the company an outperform rating in a research note on Friday, May 10th. Stifel Nicolaus upped their price target on shares of Disc Medicine from $71.00 to $73.00 and gave the company a buy rating in a research report on Monday, April 8th. Cantor Fitzgerald restated an overweight rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, May 28th. Morgan Stanley reduced their price target on shares of Disc Medicine from $75.00 to $40.00 and set an equal weight rating for the company in a research report on Tuesday, April 2nd. Finally, Wedbush restated an outperform rating and issued a $43.00 price target (down previously from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $62.57.

Disc Medicine Price Performance

IRON stock opened at $44.86 on Friday. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The firm has a market cap of $1.11 billion, a PE ratio of -13.27 and a beta of 0.50. The firm has a 50 day simple moving average of $32.45 and a 200 day simple moving average of $51.12.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, May 9th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.09). As a group, sell-side analysts expect that Disc Medicine will post -4.67 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total transaction of $81,408.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IRON. Strs Ohio increased its stake in shares of Disc Medicine by 66.7% during the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $57,000 after purchasing an additional 400 shares during the last quarter. AJOVista LLC acquired a new position in Disc Medicine in the 4th quarter valued at $63,000. China Universal Asset Management Co. Ltd. acquired a new position in Disc Medicine in the 4th quarter valued at $161,000. ProShare Advisors LLC acquired a new position in Disc Medicine in the 1st quarter valued at $211,000. Finally, Bleakley Financial Group LLC acquired a new position in Disc Medicine in the 4th quarter valued at $215,000. Institutional investors and hedge funds 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.