Disc Medicine’s (IRON) Overweight Rating Reiterated at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Disc Medicine (NASDAQ:IRON) in a research note released on Friday morning,Benzinga reports. Morgan Stanley currently has a $85.00 target price on the stock.

Other equities analysts have also issued reports about the company. Scotiabank increased their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Stifel Nicolaus increased their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. TD Cowen started coverage on Disc Medicine in a research report on Thursday, February 27th. They set a “buy” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $89.10.

Disc Medicine Stock Up 0.3 %

NASDAQ:IRON opened at $55.67 on Friday. The business’s 50-day moving average price is $57.17 and its two-hundred day moving average price is $55.89. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $68.86. The stock has a market cap of $1.66 billion, a P/E ratio of -13.99 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.08. On average, equities research analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John D. Quisel sold 12,791 shares of Disc Medicine stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the sale, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,757,010.65. This trade represents a 15.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pamela Stephenson sold 3,137 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,217.46. Following the completion of the sale, the insider now owns 69,529 shares in the company, valued at approximately $3,794,892.82. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,080 shares of company stock worth $4,523,520 in the last ninety days. 4.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently made changes to their positions in IRON. GF Fund Management CO. LTD. purchased a new position in shares of Disc Medicine in the 4th quarter valued at approximately $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Disc Medicine by 399.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company’s stock valued at $5,903,000 after purchasing an additional 74,454 shares during the period. Woodline Partners LP lifted its stake in shares of Disc Medicine by 5.2% in the 4th quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock valued at $25,144,000 after purchasing an additional 19,538 shares during the period. ProShare Advisors LLC lifted its stake in shares of Disc Medicine by 26.5% in the 4th quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock valued at $442,000 after purchasing an additional 1,458 shares during the period. Finally, MPM Bioimpact LLC lifted its stake in shares of Disc Medicine by 11.1% in the 4th quarter. MPM Bioimpact LLC now owns 346,401 shares of the company’s stock valued at $21,962,000 after purchasing an additional 34,640 shares during the period. 83.70% of the stock is currently owned by institutional investors.

About Disc Medicine

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.