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

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued on Friday,RTT News reports. They currently have a $83.00 price target on the stock. Wedbush’s price objective points to a potential upside of 40.11% from the company’s previous close.

IRON has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Scotiabank boosted their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a 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.com, Disc Medicine currently has an average rating of “Buy” and a consensus price target of $87.50.

Disc Medicine Stock Down 5.3 %

IRON traded down $3.30 during midday trading on Friday, reaching $59.24. The company had a trading volume of 701,611 shares, compared to its average volume of 321,302. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The company has a market cap of $1.76 billion, a P/E ratio of -14.88 and a beta of 0.75. The business has a 50-day moving average of $63.46 and a two-hundred day moving average of $52.82.

Disc Medicine (NASDAQ:IRON) last released its earnings results 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, equities research analysts predict that Disc Medicine will post -4.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the transaction, the insider now directly owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The stock was 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. Over the last quarter, insiders sold 85,758 shares of company stock worth $5,400,990. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

A number of large investors have recently made changes to their positions in IRON. 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 worth $26,000 after buying an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the period. Quest Partners LLC bought a new stake in shares of Disc Medicine during the third quarter valued at approximately $131,000. Quantbot Technologies LP purchased a new stake in shares of Disc Medicine in the third quarter valued at approximately $146,000. Finally, Intech Investment Management LLC bought a new position in Disc Medicine in the third quarter worth approximately $228,000. 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.