Disc Medicine’s (IRON) Buy Rating Reaffirmed at HC Wainwright

Disc Medicine (NASDAQ:IRON)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $118.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 101.71% from the company’s current price.

IRON has been the topic of a number of other reports. Morgan Stanley upgraded 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. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Wedbush restated an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research report on Tuesday. Scotiabank raised their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Disc Medicine presently has a consensus rating of “Buy” and a consensus target price of $88.50.

Disc Medicine Price Performance

NASDAQ IRON opened at $58.50 on Tuesday. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -14.70 and a beta of 0.75. The company’s fifty day moving average price is $62.73 and its two-hundred day moving average price is $53.69.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, analysts anticipate that Disc Medicine will post -4.07 EPS for the current year.

Insider Buying and Selling

In other Disc Medicine news, insider William Jacob Savage sold 14,183 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $65.45, for a total transaction of $928,277.35. Following the transaction, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,644,507.25. This trade represents a 25.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John D. Quisel sold 19,820 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,550,184.10. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,758 shares of company stock valued at $5,400,990 in the last quarter. Company insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently bought and sold shares of IRON. Amalgamated Bank increased its stake in Disc Medicine by 76.9% during 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 period. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 45.7% during 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 period. Quest Partners LLC bought a new position in shares of Disc Medicine during the 3rd quarter valued at about $131,000. Quantbot Technologies LP bought a new position in shares of Disc Medicine during the 3rd quarter valued at about $146,000. Finally, Intech Investment Management LLC bought a new position in shares of Disc Medicine during the 3rd quarter valued at about $228,000. 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.