Disc Medicine (NASDAQ:IRON) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research note issued to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $70.00 target price on the stock.

IRON has been the topic of a number of other reports. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Wedbush reiterated an “outperform” rating and set a $75.00 target price (up from $60.00) on shares of Disc Medicine in a research report on Monday, November 4th. Scotiabank assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective on the stock. Nine 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 an average price target of $80.20.

Disc Medicine Price Performance

NASDAQ IRON opened at $65.00 on Tuesday. The company’s fifty day moving average is $49.94 and its two-hundred day moving average is $43.74. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -17.71 and a beta of 0.60.

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

Insider Activity 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 stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently modified their holdings of the business. Intech Investment Management LLC bought a new position in Disc Medicine during the 3rd quarter worth about $228,000. Quest Partners LLC acquired a new stake in Disc Medicine in the 3rd quarter valued at $131,000. China Universal Asset Management Co. Ltd. lifted its position in Disc Medicine by 96.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock worth $281,000 after buying an additional 2,813 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 valued at $54,000 after acquiring an additional 337 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Disc Medicine by 19.5% in the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after acquiring an additional 793 shares during the last quarter. 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.