HC Wainwright Reaffirms Buy Rating for Disc Medicine (NASDAQ:IRON)

HC Wainwright restated their buy rating on shares of Disc Medicine (NASDAQ:IRON - Free Report) in a report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $70.00 price objective on the stock.

A number of other analysts have also recently weighed in on IRON. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Morgan Stanley upgraded shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Tuesday. Raymond James raised shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $66.00 to $110.00 in a research note on Monday. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price objective for the company. Finally, Scotiabank started coverage on Disc Medicine in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $62.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $80.20.

Disc Medicine Price Performance

Shares of IRON stock traded up $6.53 on Tuesday, hitting $64.78. The stock had a trading volume of 894,960 shares, compared to its average volume of 355,030. The firm has a market capitalization of $1.93 billion, a P/E ratio of -17.65 and a beta of 0.60. The company's 50 day moving average price is $48.75 and its 200-day moving average price is $42.93. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.11) by $0.08. On average, equities analysts forecast that Disc Medicine will post -4.09 EPS for the current year.

Insider Activity

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 7,538 shares of company stock worth $437,875. Corporate insiders own 4.24% of the company's stock.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Atlas Venture Life Science Advisors LLC lifted its holdings in shares of Disc Medicine by 9.7% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company's stock worth $113,101,000 after acquiring an additional 222,223 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its position 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 worth $79,090,000 after purchasing an additional 969,834 shares during the last quarter. Deerfield Management Company L.P. Series C increased its holdings in Disc Medicine by 53.8% during 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 during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company's stock valued at $58,788,000 after buying an additional 353,382 shares during the period. Finally, Logos Global Management LP bought a new position in Disc Medicine during the second quarter worth about $41,690,000. 83.70% of the stock is owned by 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.