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

Wedbush reissued their outperform rating on shares of Disc Medicine (NASDAQ:IRONFree Report) in a report released on Tuesday,RTT News reports. The firm currently has a $90.00 price objective on the stock, up from their prior price objective of $83.00.

A number of other brokerages have also recently commented on IRON. Stifel Nicolaus upped their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Scotiabank upped their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised shares of 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. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $88.20.

Check Out Our Latest Analysis on Disc Medicine

Disc Medicine Stock Up 3.9 %

NASDAQ IRON opened at $60.52 on Tuesday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -15.21 and a beta of 0.75. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a fifty day simple moving average of $62.82 and a 200 day simple moving average of $53.66.

Disc Medicine (NASDAQ:IRONGet Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Research analysts expect that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 12,791 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.01, for a total value of $844,333.91. Following the transaction, the chief executive officer now owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. This trade represents a 15.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction dated 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 quarter, insiders have sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in 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 buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 buying an additional 337 shares during the last quarter. Quest Partners LLC purchased a new stake in Disc Medicine in the 3rd quarter valued at about $131,000. Quantbot Technologies LP purchased a new stake in Disc Medicine in the 3rd quarter valued at about $146,000. Finally, Intech Investment Management LLC purchased a new stake in Disc Medicine in the 3rd quarter valued at about $228,000. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Disc Medicine (NASDAQ:IRON)

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