Disc Medicine’s (IRON) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Disc Medicine (NASDAQ:IRONFree Report) in a research report report published on Friday morning,RTT News reports. They currently have a $83.00 price objective on the stock.

IRON has been the topic of several other reports. Stifel Nicolaus lifted their target price on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Scotiabank lifted their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Tuesday, November 5th. Raymond James raised 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, November 4th. Finally, Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and a consensus target price of $87.50.

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Disc Medicine Price Performance

NASDAQ IRON opened at $59.24 on Friday. The company’s 50 day simple moving average is $63.46 and its 200 day simple moving average is $52.82. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The company has a market capitalization of $1.76 billion, a P/E ratio of -14.88 and a beta of 0.75.

Disc Medicine (NASDAQ:IRONGet Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. On average, analysts anticipate that Disc Medicine will post -4.05 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 1,957 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John D. Quisel sold 19,820 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the completion of the sale, the chief executive officer now owns 72,065 shares of the company’s stock, valued at $4,550,184.10. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,758 shares of company stock worth $5,400,990. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Disc Medicine by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock valued at $799,000 after purchasing an additional 2,257 shares during the last quarter. Exome Asset Management LLC raised its stake in Disc Medicine by 5.8% during the 3rd quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock valued at $3,170,000 after purchasing an additional 3,516 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Disc Medicine by 38.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company’s stock valued at $961,000 after purchasing an additional 5,458 shares during the last quarter. Geode Capital Management LLC raised its stake in Disc Medicine by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock valued at $23,333,000 after purchasing an additional 70,983 shares during the last quarter. Finally, Barclays PLC raised its stake in Disc Medicine by 123.7% during the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after purchasing an additional 22,202 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

About Disc Medicine

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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.

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Analyst Recommendations for Disc Medicine (NASDAQ:IRON)

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