Morgan Stanley Upgrades Disc Medicine (NASDAQ:IRON) to Overweight

Morgan Stanley upgraded shares of Disc Medicine (NASDAQ:IRON) from an equal weight rating to an overweight rating in a report released on Tuesday, MarketBeat.com reports. The firm currently has $85.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target on the stock. Scotiabank assumed coverage on Disc Medicine in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 target price on the stock. Jefferies Financial Group began coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research report on Monday, October 28th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $80.20.

Disc Medicine Stock Up 2.6 %

NASDAQ:IRON opened at $65.00 on Tuesday. The firm’s fifty day simple moving average is $49.94 and its 200-day simple moving average is $43.74. The stock has a market cap of $1.93 billion, a PE ratio of -17.71 and a beta of 0.60. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two 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. Equities analysts anticipate that Disc Medicine will post -4.09 earnings per share for the current year.

Insider Activity

In related news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 7,538 shares of company stock valued at $437,875 over the last 90 days. Insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Hedge funds have recently added to or reduced their stakes in the business. Atlas Venture Life Science Advisors LLC lifted its holdings in shares of Disc Medicine by 9.7% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after acquiring an additional 222,223 shares during the period. Frazier Life Sciences Management L.P. increased its position in Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after purchasing an additional 969,834 shares during the last quarter. Deerfield Management Company L.P. Series C raised its stake in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after purchasing an additional 357,730 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after purchasing an additional 353,382 shares during the last quarter. Finally, Logos Global Management LP purchased a new stake in shares of Disc Medicine during the 2nd quarter valued at $41,690,000. 83.70% of the stock is 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.