HC Wainwright Forecasts Strong Price Appreciation for Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine (NASDAQ:IRON) had its price target hoisted by HC Wainwright from $70.00 to $118.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also weighed in on IRON. Jefferies Financial Group started coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Wells Fargo & Company assumed coverage on Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price (up from $75.00) on shares of Disc Medicine in a research report on Tuesday. Finally, Scotiabank lifted their price target on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $85.80.

Disc Medicine Trading Down 0.3 %

Shares of IRON stock opened at $63.06 on Wednesday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -15.84 and a beta of 0.60. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The stock’s fifty day simple moving average is $50.81 and its 200-day simple moving average is $44.64.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. On average, sell-side analysts predict that Disc Medicine will post -4.15 EPS for the current year.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank lifted its position in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 337 shares during the last quarter. Quest Partners LLC bought a new stake in Disc Medicine in the 3rd quarter valued at $131,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Disc Medicine in the 2nd quarter worth $129,000. Finally, Quantbot Technologies LP bought a new position in shares of Disc Medicine during the 3rd quarter worth about $146,000. 83.70% of the stock is currently 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.