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

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

Other analysts also recently issued reports about the stock. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a research note on Monday. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $75.00 price target (up from $60.00) on shares of Disc Medicine in a research report on Monday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $80.20.

Disc Medicine Trading Up 11.2 %

Shares of IRON stock opened at $64.78 on Tuesday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -17.65 and a beta of 0.60. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The stock’s 50-day moving average price is $48.75 and its 200-day moving average price is $42.93.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. As a group, research analysts predict that Disc Medicine will post -4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 7,538 shares of company stock worth $437,875 in the last 90 days. Insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several large investors have recently made changes to their positions in IRON. Atlas Venture Life Science Advisors LLC lifted its position in Disc Medicine by 9.7% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock valued at $113,101,000 after purchasing an additional 222,223 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C boosted its stake in shares of Disc Medicine by 53.8% in 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 grew its holdings in Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after acquiring an additional 353,382 shares during the period. Finally, Logos Global Management LP purchased a new position in Disc Medicine during the second quarter valued at approximately $41,690,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

About Disc Medicine

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.