Disc Medicine (NASDAQ:IRON) Given “Outperform” Rating at Wedbush

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report issued on Tuesday,RTT News reports. They presently have a $90.00 target price on the stock, up from their previous target price of $83.00. Wedbush’s target price would suggest a potential upside of 47.65% from the company’s current price.

Several other equities research analysts have also recently weighed in on IRON. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Tuesday, November 5th. Scotiabank upped their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. 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. Stifel Nicolaus upped their price target on Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Monday, December 9th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Disc Medicine has a consensus rating of “Buy” and a consensus price target of $88.20.

Disc Medicine Trading Up 4.6 %

Shares of IRON stock traded up $2.70 during trading hours on Tuesday, reaching $60.95. The company’s stock had a trading volume of 249,155 shares, compared to its average volume of 320,459. The stock has a market capitalization of $1.81 billion, a P/E ratio of -15.44 and a beta of 0.75. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The firm’s fifty day simple moving average is $62.88 and its 200 day simple moving average is $53.56.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. As a group, equities research analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity

In other Disc Medicine news, insider William Jacob Savage sold 14,183 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $65.45, for a total value 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 represents a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. 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 over the last ninety days. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IRON. Frazier Life Sciences Management L.P. lifted its holdings in 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 valued at $79,090,000 after acquiring an additional 969,834 shares during the period. Logos Global Management LP purchased a new stake in Disc Medicine in the second quarter worth about $41,690,000. Point72 Asset Management L.P. purchased a new stake in Disc Medicine in the second quarter worth about $34,318,000. Deerfield Management Company L.P. Series C increased its position in Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after buying an additional 303,954 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

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.