Disc Medicine (NASDAQ:IRON) Receives Overweight Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Disc Medicine (NASDAQ:IRON - Free Report) in a research note issued to investors on Friday,Benzinga reports. Morgan Stanley currently has a $85.00 price objective on the stock.

IRON has been the topic of several other research reports. Stifel Nicolaus lifted their target price on Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, January 24th. HC Wainwright reaffirmed a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. TD Cowen started coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They set a "buy" rating for the company. Finally, Scotiabank upped their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Disc Medicine presently has an average rating of "Buy" and an average target price of $89.10.

Disc Medicine Price Performance

Disc Medicine stock traded up $0.52 during midday trading on Friday, reaching $53.89. The stock had a trading volume of 483,491 shares, compared to its average volume of 361,798. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $68.86. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -13.54 and a beta of 0.73. The firm's fifty day simple moving average is $56.81 and its two-hundred day simple moving average is $55.95.

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Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.06) by $0.08. As a group, sell-side analysts predict that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, CFO Jean M. Franchi sold 3,136 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $171,162.88. Following the transaction, the chief financial officer now owns 69,530 shares of the company's stock, valued at $3,794,947.40. This trade represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the sale, the insider now directly owns 14,035 shares of the company's stock, valued at approximately $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,080 shares of company stock worth $4,523,520. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IRON. Tower Research Capital LLC TRC grew its position in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after purchasing an additional 266 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Disc Medicine by 8.9% during the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock valued at $308,000 after purchasing an additional 396 shares during the period. Sterling Capital Management LLC grew its holdings in Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after buying an additional 503 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Disc Medicine by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock worth $400,000 after buying an additional 593 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in Disc Medicine in the 4th quarter worth approximately $40,000. 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.