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

HC Wainwright restated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $118.00 price objective on the stock.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald boosted 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. Raymond James Financial assumed coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They issued a “strong-buy” rating and a $89.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Morgan Stanley reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Finally, TD Cowen assumed coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $96.70.

Disc Medicine Stock Performance

Shares of IRON stock opened at $50.09 on Tuesday. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -12.78 and a beta of 0.73. 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 company has a 50-day simple moving average of $46.96 and a 200 day simple moving average of $52.97. Disc Medicine has a 52 week low of $30.82 and a 52 week high of $68.73.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.03). On average, sell-side analysts predict that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Activity at Disc Medicine

In related news, insider William Jacob Savage sold 2,996 shares of Disc Medicine 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 now directly owns 56,725 shares of the company’s stock, valued at $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 SEC, which is available through this link. Also, CFO Jean M. Franchi sold 2,000 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $52.26, for a total transaction of $104,520.00. Following the sale, the chief financial officer now directly owns 67,530 shares in the company, valued at approximately $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 19,511 shares of company stock valued at $1,004,277 over the last three months. 4.24% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of IRON. RA Capital Management L.P. bought a new stake in shares of Disc Medicine during the first quarter worth $78,288,000. FMR LLC grew its stake in shares of Disc Medicine by 358.7% during the fourth quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after buying an additional 1,459,434 shares during the last quarter. Siren L.L.C. bought a new stake in shares of Disc Medicine during the first quarter worth $53,207,000. Wellington Management Group LLP grew its stake in shares of Disc Medicine by 67.9% during the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock worth $116,331,000 after buying an additional 948,094 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Disc Medicine by 62.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after buying an additional 467,988 shares during 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.