Wall Street Zen upgraded shares of Disc Medicine (NASDAQ:IRON – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
A number of other analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Disc Medicine in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Disc Medicine in a research report on Thursday, September 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Disc Medicine in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of Disc Medicine in a research report on Tuesday, September 1st. Finally, Jefferies Financial Group restated a “buy” rating and set a $128.00 price objective on shares of Disc Medicine in a research note on Thursday. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.55.
View Our Latest Analysis on IRON
Disc Medicine Stock Down 1.6%
Disc Medicine (NASDAQ:IRON – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. On average, sell-side analysts anticipate that Disc Medicine will post -6.61 earnings per share for the current fiscal year.
Insider Activity
In other Disc Medicine news, Director Kevin Bitterman sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $79.96, for a total transaction of $135,052.44. Following the transaction, the director owned 13,427 shares of the company’s stock, valued at $1,073,622.92. The trade was a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 that occurred on Thursday, August 6th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the insider directly owned 52,324 shares of the company’s stock, valued at approximately $4,185,920. The trade was a 8.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 191,185 shares of company stock valued at $14,647,027. Company insiders own 3.76% of the company’s stock.
Hedge Funds Weigh In On Disc Medicine
Institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming bought a new position in shares of Disc Medicine during the second quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd bought a new position in Disc Medicine in the fourth quarter valued at about $33,000. Allworth Financial LP bought a new stake in shares of Disc Medicine during the 2nd quarter valued at approximately $46,000. Nykredit A S bought a new stake in shares of Disc Medicine during the second quarter worth $103,000. Finally, Quantbot Technologies LP acquired a new position in shares of Disc Medicine during the second quarter worth $153,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.
About Disc Medicine
Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.
Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.
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