Disc Medicine (NASDAQ:IRON) Earns Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Disc Medicine (NASDAQ:IRONFree Report) in a report released on Monday,RTT News reports. They currently have a $90.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen assumed coverage on Disc Medicine in a research note on Thursday, February 27th. They set a “buy” rating on the stock. Raymond James assumed coverage on Disc Medicine in a research note on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price objective on the stock. Cantor Fitzgerald boosted their price objective on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets upped their target price on Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Disc Medicine has a consensus rating of “Buy” and an average target price of $96.70.

Get Our Latest Stock Analysis on IRON

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $52.02 on Monday. The business’s 50 day moving average is $46.21 and its two-hundred day moving average is $53.11. Disc Medicine has a 1-year low of $30.82 and a 1-year high of $68.73. The stock has a market capitalization of $1.80 billion, a P/E ratio of -13.07 and a beta of 0.73.

Disc Medicine (NASDAQ:IRONGet Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, equities research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider William Jacob Savage sold 2,100 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now owns 66,398 shares of the company’s stock, valued at $3,331,187.66. This represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mona Ashiya sold 10,011 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $54.00, for a total value of $540,594.00. Following the completion of the transaction, the director now directly owns 187,297 shares in the company, valued at approximately $10,114,038. This trade represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,178 shares of company stock valued at $3,582,568 over the last quarter. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. Rhumbline Advisers lifted its holdings in Disc Medicine by 5.7% during the fourth quarter. Rhumbline Advisers now owns 29,036 shares of the company’s stock worth $1,841,000 after buying an additional 1,553 shares during the period. Bank of New York Mellon Corp lifted its holdings in Disc Medicine by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 57,261 shares of the company’s stock worth $3,630,000 after buying an additional 4,356 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Disc Medicine by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 165,072 shares of the company’s stock worth $10,466,000 after buying an additional 4,518 shares during the period. Victory Capital Management Inc. lifted its holdings in Disc Medicine by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 236,244 shares of the company’s stock worth $14,978,000 after buying an additional 16,230 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Disc Medicine during the fourth quarter worth $5,579,000. 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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