Wedbush Reiterates Outperform Rating for Disc Medicine (NASDAQ:IRON)

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report issued on Friday,RTT News reports. They currently have a $83.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 40.11% from the company’s current price.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price for the company. Finally, Scotiabank raised their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and an average price target of $87.50.

Disc Medicine Price Performance

IRON opened at $59.24 on Friday. The firm has a market capitalization of $1.76 billion, a P/E ratio of -14.88 and a beta of 0.75. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The company’s 50-day moving average is $63.46 and its 200 day moving average is $52.88.

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

Insider Transactions at Disc Medicine

In other news, CEO John D. Quisel sold 19,820 shares of Disc Medicine 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 directly owns 72,065 shares in the company, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the sale, the insider now directly owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. This trade represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,758 shares of company stock worth $5,400,990 in the last three months. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank raised its holdings in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the period. Quest Partners LLC bought a new position in Disc Medicine in the third quarter worth approximately $131,000. Quantbot Technologies LP purchased a new stake in Disc Medicine during the third quarter worth $146,000. Finally, Intech Investment Management LLC bought a new stake in Disc Medicine during the 3rd quarter valued at $228,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.