Disc Medicine (NASDAQ:IRON) Now Covered by Analysts at TD Cowen

Stock analysts at TD Cowen assumed coverage on shares of Disc Medicine (NASDAQ:IRON) in a report issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating on the stock.

IRON has been the subject of a number of other reports. Scotiabank lifted their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. HC Wainwright restated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Stifel Nicolaus raised their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $88.90.

Disc Medicine Price Performance

IRON stock opened at $56.18 on Thursday. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The stock has a market capitalization of $1.67 billion, a PE ratio of -14.12 and a beta of 0.73. The company’s 50-day moving average is $58.08 and its 200-day moving average is $55.51.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. On average, analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the sale, the insider now owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. This trade represents a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the sale, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,757,010.65. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,037 shares of company stock valued at $4,650,001 in the last three months. Company insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 purchasing an additional 337 shares during the period. Teacher Retirement System of Texas lifted its holdings in Disc Medicine by 8.9% during the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock worth $308,000 after purchasing an additional 396 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 503 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after buying an additional 593 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

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.