Disc Medicine’s (IRON) “Outperform” Rating Reiterated at Wedbush

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a note issued to investors on Monday,RTT News reports. They currently have a $83.00 target price on the stock. Wedbush’s price target indicates a potential upside of 23.02% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company began coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective for the company. Scotiabank upped their price target on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Monday. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $87.50.

Disc Medicine Trading Up 4.3 %

Disc Medicine stock opened at $67.47 on Monday. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The company’s 50-day moving average is $56.26 and its two-hundred day moving average is $49.06. The company has a market cap of $2.01 billion, a PE ratio of -16.95 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Research analysts forecast that Disc Medicine will post -4.05 EPS for the current year.

Insider Activity at Disc Medicine

In other news, insider William Jacob Savage sold 14,183 shares of Disc Medicine stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the sale, the insider now directly owns 40,405 shares in the company, valued at $2,644,507.25. This trade represents a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,836 shares of company stock valued at $2,038,816. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its stake in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $54,000 after purchasing an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Disc Medicine during the second quarter worth about $129,000. Quest Partners LLC acquired a new position in Disc Medicine during the third quarter worth approximately $131,000. Finally, Quantbot Technologies LP bought a new stake in Disc Medicine in the third quarter valued at approximately $146,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.