Disc Medicine (NASDAQ:IRON – Free Report) had its price target upped by Wedbush from $88.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. Wedbush currently has an outperform rating on the stock.
Several other analysts also recently weighed in on IRON. HC Wainwright boosted their price target on Disc Medicine from $118.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $90.00 target price on shares of Disc Medicine in a report on Monday, August 17th. Wall Street Zen lowered Disc Medicine from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a report on Tuesday. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.70.
Get Our Latest Analysis on Disc Medicine
Disc Medicine Trading Down 0.2%
Disc Medicine (NASDAQ:IRON – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. Analysts predict that Disc Medicine will post -6.61 EPS for the current year.
Insider Activity
In related news, Director Kevin Bitterman sold 5,203 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $79.98, for a total value of $416,135.94. Following the completion of the transaction, the director directly owned 13,445 shares in the company, valued at $1,075,331.10. The trade was a 27.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Rahul Khara sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the insider owned 52,324 shares in the company, valued at approximately $4,185,920. This represents a 8.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 208,108 shares of company stock worth $15,799,739 over the last 90 days. Company insiders own 3.76% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of Disc Medicine during the 2nd quarter valued at about $25,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Disc Medicine in the 4th quarter valued at about $33,000. Allworth Financial LP acquired a new position in Disc Medicine in the 2nd quarter worth about $46,000. Nykredit A S acquired a new position in Disc Medicine in the 2nd quarter worth about $103,000. Finally, Persistent Asset Partners Ltd acquired a new position in Disc Medicine in the 4th quarter worth about $141,000. Institutional investors and hedge funds own 83.70% of the company’s stock.
Disc Medicine Company Profile
Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.
The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.
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