Disc Medicine (NASDAQ:IRON) Receives “Outperform” Rating from Wedbush

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a report released on Tuesday,RTT News reports. They currently have a $90.00 price target on the stock, up from their previous price target of $83.00. Wedbush’s target price suggests a potential upside of 53.85% from the stock’s previous close. Wedbush also issued estimates for Disc Medicine’s FY2028 earnings at $7.51 EPS and FY2029 earnings at $12.05 EPS.

Several other brokerages have also issued reports on IRON. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank boosted their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Monday, December 9th. Jefferies Financial Group assumed coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Finally, Stifel Nicolaus upped their price target on Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Disc Medicine has an average rating of “Buy” and a consensus target price of $88.50.

Disc Medicine Price Performance

Shares of IRON stock opened at $58.50 on Tuesday. The stock has a market cap of $1.74 billion, a PE ratio of -14.70 and a beta of 0.75. The stock has a 50-day moving average of $62.73 and a 200-day moving average of $53.69. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 1,957 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John D. Quisel sold 12,791 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.01, for a total value of $844,333.91. Following the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Disc Medicine by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after purchasing an additional 83,731 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in shares of Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Disc Medicine by 53.8% during 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 in the last quarter. Logos Global Management LP acquired a new stake in shares of Disc Medicine during the second quarter worth $41,690,000. Finally, State Street Corp lifted its holdings in shares of Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after buying an additional 235,115 shares in the last quarter. 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.