Disc Medicine (NASDAQ:IRON) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a report released on Thursday morning,Benzinga reports. The firm currently has a $118.00 target price on the stock.

IRON has been the topic of a number of other reports. BMO Capital Markets increased their price target on Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Morgan Stanley restated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. Cantor Fitzgerald raised their target price on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Raymond James Financial began coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Disc Medicine in a research report on Monday, June 16th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and a consensus price target of $96.70.

Disc Medicine Stock Up 3.0%

IRON opened at $54.75 on Thursday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -13.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.04, a quick ratio of 37.65 and a current ratio of 37.65. The firm’s 50-day simple moving average is $49.16 and its 200-day simple moving average is $52.16. Disc Medicine has a twelve month low of $30.82 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). Equities research analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity

In other Disc Medicine news, insider William Jacob Savage sold 2,996 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $50.00, for a total value of $149,800.00. Following the transaction, the insider directly owned 56,725 shares of the company’s stock, valued at approximately $2,836,250. This trade represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean M. Franchi sold 2,000 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $52.26, for a total transaction of $104,520.00. Following the sale, the chief financial officer owned 67,530 shares of the company’s stock, valued at $3,529,117.80. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,773 shares of company stock valued at $693,794 over the last three months. Company insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. bought a new stake in shares of Disc Medicine in the 1st quarter valued at about $78,288,000. FMR LLC grew its holdings in Disc Medicine by 358.7% during the fourth quarter. FMR LLC now owns 1,866,248 shares of the company’s stock valued at $118,320,000 after purchasing an additional 1,459,434 shares during the period. Siren L.L.C. acquired a new position in Disc Medicine during the first quarter valued at approximately $53,207,000. Wellington Management Group LLP increased its stake in Disc Medicine by 67.9% in the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock valued at $116,331,000 after purchasing an additional 948,094 shares in the last quarter. Finally, Janus Henderson Group PLC raised 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 worth $77,170,000 after purchasing an additional 467,988 shares during the period. 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.