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

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reissued by Wedbush in a research note issued on Monday,RTT News reports. They presently have a $83.00 target price on the stock. Wedbush’s price target points to a potential upside of 28.36% from the stock’s current price.

IRON has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. 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. Scotiabank boosted their price objective on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company initiated coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a report on Monday. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $85.80.

Disc Medicine Trading Down 0.2 %

Disc Medicine stock traded down $0.16 during midday trading on Monday, reaching $64.66. The stock had a trading volume of 245,740 shares, compared to its average volume of 348,167. The company has a fifty day moving average price of $55.65 and a two-hundred day moving average price of $48.61. 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 $1.92 billion, a P/E ratio of -16.25 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, equities research analysts predict that Disc Medicine will post -4.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Jacob Savage sold 9,158 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the sale, the insider now owns 40,405 shares in the company, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Richard White sold 1,957 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,836 shares of company stock valued at $2,038,816. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in Disc Medicine in the 2nd quarter valued at approximately $34,318,000. Frazier Life Sciences Management L.P. boosted its holdings in shares of Disc Medicine by 123.5% in 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 acquiring an additional 969,834 shares during the period. Blue Owl Capital Holdings LP grew its position in shares of Disc Medicine by 38.6% in the second quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock valued at $9,702,000 after purchasing an additional 60,000 shares in the last quarter. Deerfield Management Company L.P. Series C raised its stake in shares of Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Disc Medicine by 46.5% during the 2nd quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock valued at $14,064,000 after purchasing an additional 98,988 shares during the period. Institutional investors 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.