Wedbush Reiterates Outperform Rating for Disc Medicine (NASDAQ:IRON)

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating restated by Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $88.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 26.09% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research note on Monday, April 20th. Morgan Stanley lifted their target price on Disc Medicine from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Stifel Nicolaus lowered their target price on Disc Medicine from $125.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Cantor Fitzgerald dropped their price target on Disc Medicine from $153.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Finally, Truist Financial cut their price target on Disc Medicine from $114.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.30.

Disc Medicine Trading Up 2.1%

NASDAQ:IRON traded up $1.45 during midday trading on Wednesday, hitting $69.79. 25,422 shares of the company traded hands, compared to its average volume of 582,904. The firm has a market capitalization of $2.66 billion, a P/E ratio of -10.51 and a beta of 0.93. The firm’s fifty day moving average is $67.88 and its 200-day moving average is $72.94. Disc Medicine has a 12-month low of $40.00 and a 12-month high of $99.50. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.62) by ($0.03). On average, sell-side analysts predict that Disc Medicine will post -6.74 EPS for the current year.

Insiders Place Their Bets

In other Disc Medicine news, CFO Jean M. Franchi sold 6,257 shares of the stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $69.24, for a total transaction of $433,234.68. Following the sale, the chief financial officer directly owned 64,333 shares of the company’s stock, valued at approximately $4,454,416.92. This trade represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Jacob Savage sold 5,731 shares of the company’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $66.38, for a total value of $380,423.78. Following the completion of the sale, the insider owned 79,480 shares in the company, valued at $5,275,882.40. The trade was a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,388 shares of company stock worth $841,258 in the last quarter. Company insiders own 3.76% of the company’s stock.

Institutional Trading of Disc Medicine

Institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. increased its position in shares of Disc Medicine by 25.3% in the fourth quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock valued at $156,925,000 after buying an additional 399,026 shares in the last quarter. Vanguard Group Inc. grew its stake in Disc Medicine by 22.1% in the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company’s stock valued at $140,371,000 after acquiring an additional 319,621 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Disc Medicine by 28.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,698,005 shares of the company’s stock worth $134,839,000 after acquiring an additional 371,576 shares in the last quarter. JPMorgan Chase & Co. raised its position in Disc Medicine by 110.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock worth $125,557,000 after acquiring an additional 828,248 shares during the period. Finally, Wellington Management Group LLP raised its position in Disc Medicine by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 1,518,274 shares of the company’s stock worth $120,566,000 after acquiring an additional 108,197 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.