Wall Street Zen upgraded shares of Disc Medicine (NASDAQ:IRON – Free Report) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.
A number of other research firms have also recently issued reports on IRON. Jefferies Financial Group restated a “buy” rating and set a $149.00 price objective on shares of Disc Medicine in a report on Wednesday, October 21st. BMO Capital Markets increased their target price on Disc Medicine from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, October 19th. Cantor Fitzgerald lifted their target price on Disc Medicine from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research note on Thursday, October 15th. Finally, Wedbush upped their price target on shares of Disc Medicine from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.40.
Read Our Latest Report on IRON
Disc Medicine Stock Up 0.6%
Shares of NASDAQ:IRON opened at $78.91 on Friday. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50. The business has a 50 day simple moving average of $71.21 and a two-hundred day simple moving average of $70.93. The firm has a market capitalization of $3.03 billion, a PE ratio of -12.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14.
Disc Medicine (NASDAQ:IRON – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported ($1.53) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.10. On average, equities analysts predict that Disc Medicine will post -6.54 EPS for the current year.
Insider Activity at Disc Medicine
In related news, COO Jonathan Yu sold 8,796 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total value of $731,123.52. Following the transaction, the chief operating officer owned 54,324 shares of the company’s stock, valued at $4,515,410.88. This represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Quisel sold 33,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $79.15, for a total value of $2,611,950.00. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares in the company, valued at approximately $17,892,965.60. This trade represents a 12.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 168,046 shares of company stock worth $13,191,034. Company insiders own 3.76% of the company’s stock.
Hedge Funds Weigh In On Disc Medicine
A number of hedge funds and other institutional investors have recently made changes to their positions in IRON. BlackRock Inc. bought a new stake in shares of Disc Medicine in the second quarter valued at about $180,502,000. Wellington Management Group LLP lifted its stake in Disc Medicine by 0.3% in the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock worth $127,362,000 after acquiring an additional 5,975 shares during the period. Assenagon Asset Management S.A. grew its holdings in Disc Medicine by 191.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock worth $73,280,000 after acquiring an additional 735,300 shares in the last quarter. Opaleye Management Inc. grew its holdings in Disc Medicine by 103.1% during the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after acquiring an additional 434,000 shares in the last quarter. Finally, Aberdeen Group plc grew its holdings in Disc Medicine by 36.4% during the 3rd quarter. Aberdeen Group plc now owns 597,841 shares of the company’s stock worth $39,135,000 after acquiring an additional 159,667 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.
About Disc Medicine
Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.
The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.
Featured Articles
- Five stocks we like better than Disc Medicine
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Receive News & Ratings for Disc Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Disc Medicine and related companies with MarketBeat.com's FREE daily email newsletter.
