TD Cowen Begins Coverage on Disc Medicine (NASDAQ:IRON)

Research analysts at TD Cowen started coverage on shares of Disc Medicine (NASDAQ:IRON) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating on the stock.

IRON has been the topic of a number of other research reports. Scotiabank raised their price objective on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, January 22nd. HC Wainwright restated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley raised 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, November 5th. Finally, Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $88.90.

Disc Medicine Stock Up 3.1 %

Disc Medicine stock opened at $56.18 on Thursday. The company’s 50-day moving average price is $58.08 and its two-hundred day moving average price is $55.51. The stock has a market cap of $1.67 billion, a P/E ratio of -14.12 and a beta of 0.73. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. Equities analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In other news, CEO John D. Quisel sold 19,820 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the sale, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,550,184.10. The trade was a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $87,873.80. Following the sale, the chief operating officer now owns 40,555 shares in the company, valued at approximately $2,213,491.90. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,037 shares of company stock valued at $4,650,001 in the last 90 days. 4.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after purchasing an additional 1,459,434 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after buying an additional 467,988 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Disc Medicine by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock valued at $88,421,000 after acquiring an additional 262,690 shares during the last quarter. State Street Corp grew its holdings in Disc Medicine by 39.7% during the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after acquiring an additional 235,115 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Disc Medicine in the 4th quarter worth about $5,579,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.