Disc Medicine (NASDAQ:IRON) Earns "Buy" Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Disc Medicine (NASDAQ:IRON - Free Report) in a research note published on Monday,Benzinga reports. They currently have a $118.00 price objective on the stock.

Other analysts have also recently issued reports about the stock. Scotiabank boosted their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, November 5th. Morgan Stanley raised shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 target price for the company in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price target for the company. Raymond James upgraded Disc Medicine from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Wedbush restated an "outperform" rating and set a $83.00 target price (up previously from $75.00) on shares of Disc Medicine in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Disc Medicine presently has a consensus rating of "Buy" and an average target price of $85.80.

Disc Medicine Trading Down 0.1 %

NASDAQ IRON traded down $0.07 during trading on Monday, hitting $64.75. 207,082 shares of the company traded hands, compared to its average volume of 348,004. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The business has a fifty day simple moving average of $55.65 and a 200 day simple moving average of $48.61. The company has a market capitalization of $1.93 billion, a P/E ratio of -16.29 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts' consensus estimates of ($1.04) by $0.15. Equities research analysts predict that Disc Medicine will post -4.05 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Jacob Savage sold 9,158 shares of the stock in a transaction 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 transaction, the insider now owns 40,405 shares of the company's stock, valued at approximately $2,409,754.20. This represents a 18.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,836 shares of company stock worth $2,038,816 over the last three months. Company insiders own 4.24% of the company's stock.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently added to or reduced their stakes in IRON. California State Teachers Retirement System lifted its position in shares of Disc Medicine by 37.2% during the 1st quarter. California State Teachers Retirement System now owns 11,800 shares of the company's stock worth $735,000 after buying an additional 3,200 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Disc Medicine by 44.2% during the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company's stock valued at $183,000 after acquiring an additional 1,247 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Disc Medicine by 89.4% during the second quarter. Bank of New York Mellon Corp now owns 51,050 shares of the company's stock valued at $2,301,000 after acquiring an additional 24,094 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at $129,000. Finally, Rhumbline Advisers increased its position in shares of Disc Medicine by 86.2% during the 2nd quarter. Rhumbline Advisers now owns 24,447 shares of the company's stock worth $1,102,000 after purchasing an additional 11,315 shares in the last quarter. 83.70% of the stock is 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.