Disc Medicine (NASDAQ:IRON) Earns “Outperform” Rating from Wedbush

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research report issued on Monday, RTT News reports. They currently have a $75.00 price objective on the stock, up from their previous price objective of $60.00. Wedbush’s target price would indicate a potential upside of 15.79% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on IRON. 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. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Monday, October 28th. Wells Fargo & Company started 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. Finally, Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $66.00 to $110.00 in a report on Monday. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $80.20.

Disc Medicine Price Performance

Disc Medicine stock opened at $64.78 on Monday. The stock’s fifty day moving average is $48.75 and its two-hundred day moving average is $42.93. The stock has a market cap of $1.93 billion, a PE ratio of -17.65 and a beta of 0.60. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted 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. On average, research analysts expect that Disc Medicine will post -4.09 earnings per share for the current fiscal year.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 7,538 shares of company stock worth $437,875 over the last 90 days. 4.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRON. Jennison Associates LLC boosted its holdings in Disc Medicine by 349.1% in the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock valued at $12,031,000 after purchasing an additional 150,209 shares in the last quarter. Swiss National Bank boosted its stake in shares of Disc Medicine by 50.6% in the first quarter. Swiss National Bank now owns 23,800 shares of the company’s stock valued at $1,482,000 after buying an additional 8,000 shares in the last quarter. ProShare Advisors LLC acquired a new position in Disc Medicine during the first quarter worth $211,000. Bleakley Financial Group LLC raised its position in Disc Medicine by 23.0% in the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after acquiring an additional 856 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Disc Medicine in the first quarter valued at $7,429,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.