Disc Medicine (NASDAQ:IRON) Coverage Initiated at Morgan Stanley

Morgan Stanley started coverage on shares of Disc Medicine (NASDAQ:IRON) in a report published on Thursday, Marketbeat.com reports. The firm issued an overweight rating and a $85.00 price target on the stock.

IRON has been the topic of several other reports. Cantor Fitzgerald upped their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Disc Medicine in a research note on Monday, June 16th. BMO Capital Markets lifted their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. HC Wainwright reissued a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a report on Thursday. Finally, Raymond James Financial started coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a “strong-buy” rating and a $89.00 price target for the company. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $96.70.

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $54.75 on Thursday. The company has a current ratio of 37.65, a quick ratio of 37.65 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $49.16 and a two-hundred day simple moving average of $52.16. Disc Medicine has a 1-year low of $30.82 and a 1-year high of $68.73. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -13.97 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON) last issued 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). Analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In related news, insider William Jacob Savage sold 6,677 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total value of $334,117.08. Following the sale, the insider owned 59,721 shares in the company, valued at approximately $2,988,438.84. This trade represents a 10.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jean M. Franchi sold 2,000 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $52.26, for a total value of $104,520.00. Following the transaction, the chief financial officer owned 67,530 shares of the company’s stock, valued at approximately $3,529,117.80. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,773 shares of company stock valued at $693,794. Insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in shares of Disc Medicine during the fourth quarter worth about $5,479,000. Rhumbline Advisers lifted its position in Disc Medicine by 10.7% during the first quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock valued at $1,596,000 after purchasing an additional 3,108 shares during the last quarter. GAMMA Investing LLC lifted its position in Disc Medicine by 5,092.5% during the first quarter. GAMMA Investing LLC now owns 12,410 shares of the company’s stock valued at $616,000 after purchasing an additional 12,171 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Disc Medicine in the 4th quarter worth approximately $335,000. Finally, Deutsche Bank AG increased its holdings in shares of Disc Medicine by 75.7% in the 4th quarter. Deutsche Bank AG now owns 16,093 shares of the company’s stock worth $1,020,000 after buying an additional 6,933 shares during the last quarter. 83.70% of the stock is currently owned by 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.