HC Wainwright Reiterates “Buy” Rating for Disc Medicine (NASDAQ:IRON)

Disc Medicine (NASDAQ:IRONGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $70.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 49.03% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on IRON. Wedbush restated an “outperform” rating and set a $57.00 price objective (up from $43.00) on shares of Disc Medicine in a research note on Friday, June 14th. BMO Capital Markets restated an “outperform” rating and set a $70.00 price objective (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, May 28th. Morgan Stanley reduced their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Finally, Stifel Nicolaus upped their target price on Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Disc Medicine currently has an average rating of “Moderate Buy” and a consensus price target of $62.57.

Get Our Latest Stock Analysis on IRON

Disc Medicine Trading Down 1.1 %

Shares of IRON stock opened at $46.97 on Wednesday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -13.90 and a beta of 0.57. The stock has a fifty day simple moving average of $37.60 and a two-hundred day simple moving average of $49.52.

Disc Medicine (NASDAQ:IRONGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.09). Research analysts predict that Disc Medicine will post -4.47 EPS for the current fiscal year.

Insider Activity

In other news, Director William Richard White sold 2,560 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Hedge funds have recently modified their holdings of the stock. Strs Ohio boosted its stake in shares of Disc Medicine by 66.7% in the fourth quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $57,000 after buying an additional 400 shares during the last quarter. AJOVista LLC purchased a new position in Disc Medicine during the fourth quarter worth approximately $63,000. China Universal Asset Management Co. Ltd. purchased a new position in Disc Medicine during the fourth quarter worth approximately $161,000. ProShare Advisors LLC purchased a new position in Disc Medicine during the first quarter worth approximately $211,000. Finally, Simplicity Solutions LLC purchased a new position in Disc Medicine during the fourth quarter worth approximately $215,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

(Get Free Report)

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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