Disc Medicine (NASDAQ:IRON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Disc Medicine (NASDAQ:IRON) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets boosted their price target on Disc Medicine from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Wedbush upped their price objective on Disc Medicine from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $149.00 price objective on shares of Disc Medicine in a research report on Wednesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Thursday, October 15th. Finally, HC Wainwright lifted their target price on Disc Medicine from $120.00 to $127.00 and gave the company a “buy” rating in a research note on Friday. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.18.

Disc Medicine Trading Up 3.0%

NASDAQ IRON opened at $81.26 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The firm has a market cap of $3.12 billion, a PE ratio of -12.82 and a beta of 0.96. Disc Medicine has a one year low of $40.00 and a one year high of $99.50. The firm’s fifty day moving average is $71.23 and its two-hundred day moving average is $70.97.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, November 5th. The company reported ($1.53) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.10. Analysts expect that Disc Medicine will post -6.54 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, COO Jonathan Yu sold 8,796 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total transaction of $731,123.52. Following the transaction, the chief operating officer directly owned 54,324 shares in the company, valued at $4,515,410.88. The trade was a 13.94% 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, Director Kevin Bitterman sold 25,519 shares of the business’s stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $80.23, for a total transaction of $2,047,389.37. Following the transaction, the director owned 12,991 shares in the company, valued at approximately $1,042,267.93. This trade represents a 66.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 168,046 shares of company stock worth $13,191,034. Company insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc increased its position in Disc Medicine by 36.4% during the 3rd quarter. Aberdeen Group plc now owns 597,841 shares of the company’s stock worth $39,135,000 after purchasing an additional 159,667 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Disc Medicine by 142.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 19,576 shares of the company’s stock worth $1,281,000 after buying an additional 11,493 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Disc Medicine in the 3rd quarter valued at approximately $707,000. AlphaCentric Advisors LLC lifted its holdings in shares of Disc Medicine by 77.7% in the 3rd quarter. AlphaCentric Advisors LLC now owns 7,161 shares of the company’s stock valued at $469,000 after buying an additional 3,131 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in shares of Disc Medicine by 31.9% in the 3rd quarter. Alps Advisors Inc. now owns 50,856 shares of the company’s stock valued at $3,329,000 after buying an additional 12,291 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

About Disc Medicine

Disc Medicine, Inc is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function.

The company’s development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.