Disc Medicine (NASDAQ:IRON) Coverage Initiated at Raymond James

Research analysts at Raymond James assumed coverage on shares of Disc Medicine (NASDAQ:IRON) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “strong-buy” rating and a $89.00 price target on the stock. Raymond James’ price objective would indicate a potential upside of 68.85% from the company’s current price.

Several other brokerages have also issued reports on IRON. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Scotiabank raised their target price on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. BMO Capital Markets lifted their price target 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. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating on the stock. Finally, Cantor Fitzgerald upped their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $96.70.

Disc Medicine Trading Up 3.6%

Shares of NASDAQ:IRON opened at $52.71 on Wednesday. The company has a 50 day moving average of $45.47 and a 200 day moving average of $53.40. Disc Medicine has a 12 month low of $30.82 and a 12 month high of $68.73. The stock has a market cap of $1.83 billion, a P/E ratio of -13.24 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). On average, equities analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 2,100 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $50.17, for a total value of $105,357.00. Following the completion of the transaction, the insider now owns 66,398 shares of the company’s stock, valued at approximately $3,331,187.66. The trade was a 3.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 39,656 shares of Disc Medicine stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.02, for a total transaction of $2,142,217.12. Following the completion of the sale, the director now owns 188,981 shares of the company’s stock, valued at $10,208,753.62. This represents a 17.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,178 shares of company stock valued at $3,582,568. 4.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC increased its position in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares in the last quarter. Amalgamated Bank increased its position in Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock worth $39,000 after purchasing an additional 219 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Disc Medicine during the 4th quarter valued at about $40,000. Caitong International Asset Management Co. Ltd raised its position in Disc Medicine by 13,428.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock valued at $47,000 after purchasing an additional 940 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Disc Medicine by 47.6% during 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 during the period. 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.