Disc Medicine’s (IRON) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $70.00 price target on the stock.

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

Disc Medicine Stock Down 2.3 %

Shares of IRON stock opened at $63.33 on Tuesday. The business has a 50-day moving average price of $49.66 and a two-hundred day moving average price of $43.48. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The firm has a market cap of $1.88 billion, a P/E ratio of -17.26 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. As a group, research analysts expect 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 stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,538 shares of company stock valued at $437,875 over the last ninety days. 4.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares in the last quarter. SG Americas Securities LLC boosted its position in Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after acquiring an additional 793 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Disc Medicine by 23.0% during the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after acquiring an additional 856 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Disc Medicine by 3.7% in the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after acquiring an additional 1,468 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Company Profile

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.