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

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They presently have a $90.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 72.84% from the company’s previous close.

IRON has been the subject of several other reports. TD Cowen assumed coverage on Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating for the company. Cantor Fitzgerald raised their price objective on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Scotiabank increased their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. BMO Capital Markets raised their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, May 12th. Finally, Raymond James began coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They issued a “strong-buy” rating and a $89.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $96.70.

Disc Medicine Trading Down 3.1%

IRON stock traded down $1.64 during trading on Monday, reaching $52.07. 138,041 shares of the stock were exchanged, compared to its average volume of 347,833. The firm’s 50 day moving average is $45.86 and its 200 day moving average is $53.19. The firm has a market cap of $1.80 billion, a P/E ratio of -13.07 and a beta of 0.73. Disc Medicine has a twelve month low of $30.82 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). As a group, analysts predict that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Jacob Savage sold 2,996 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $50.00, for a total transaction of $149,800.00. Following the sale, the insider now directly owns 56,725 shares in the company, valued at approximately $2,836,250. This represents a 5.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 5,738 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $54.11, for a total value of $310,483.18. Following the completion of the transaction, the director now directly owns 186,541 shares of the company’s stock, valued at $10,093,733.51. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,178 shares of company stock valued at $3,582,568 over the last ninety days. 4.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently modified their holdings of the company. RA Capital Management L.P. purchased a new position in Disc Medicine during the first quarter worth about $78,288,000. FMR LLC boosted its position in shares of Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock valued at $118,320,000 after acquiring an additional 1,459,434 shares during the last quarter. Siren L.L.C. purchased a new position in shares of Disc Medicine during the first quarter worth about $53,207,000. Wellington Management Group LLP increased its position in shares of Disc Medicine by 67.9% in the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock worth $116,331,000 after purchasing an additional 948,094 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after purchasing an additional 467,988 shares during the last quarter. 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.