Wall Street Zen Upgrades Disc Medicine (NASDAQ:IRON) to "Hold"

Key Points

• Wall Street Zen upgraded Disc Medicine from “sell” to “hold.” The broader analyst consensus remains “Moderate Buy,” with 11 Buy, one Hold, and one Sell rating and an average price target of $123.40.
• Several analysts raised their price targets, including Cantor Fitzgerald to $170, HC Wainwright to $127, and Wells Fargo to $124.
• Disc Medicine reported a quarterly loss of $1.53 per share, narrower than analysts’ expected loss of $1.63 per share.

Disc Medicine (NASDAQ:IRON - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Disc Medicine from $86.00 to $124.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 20th. BMO Capital Markets lifted their target price on shares of Disc Medicine from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, October 19th. HC Wainwright lifted their target price on shares of Disc Medicine from $120.00 to $127.00 and gave the company a "buy" rating in a report on Friday. Cantor Fitzgerald increased their price target on Disc Medicine from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Monday, October 19th. Finally, Morgan Stanley raised their price target on shares of Disc Medicine from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Tuesday, October 20th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Disc Medicine has an average rating of "Moderate Buy" and a consensus price target of $123.40.

Disc Medicine Stock Up 0.6%

Shares of NASDAQ:IRON opened at $78.91 on Friday. The company has a market capitalization of $3.03 billion, a PE ratio of -12.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The company has a fifty day moving average of $71.21 and a 200-day moving average of $70.93. Disc Medicine has a 52-week low of $40.00 and a 52-week high of $99.50.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($1.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.63) by $0.10. On average, equities analysts predict that Disc Medicine will post -6.61 EPS for the current fiscal year.

Insider Activity

In other Disc Medicine news, COO Jonathan Yu sold 8,796 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the sale, the chief operating officer owned 54,324 shares in the company, valued at $4,515,410.88. This represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John D. Quisel sold 33,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $79.15, for a total value of $2,611,950.00. Following the transaction, the chief executive officer owned 226,064 shares in the company, valued at $17,892,965.60. This trade represents a 12.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 168,046 shares of company stock worth $13,191,034 in the last quarter. 3.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in shares of Disc Medicine during the 2nd quarter valued at about $1,350,000. Bank of America Corp DE acquired a new position in Disc Medicine in the second quarter valued at $9,882,000. Opaleye Management Inc. boosted its holdings in Disc Medicine by 103.1% during the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock worth $62,535,000 after purchasing an additional 434,000 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Disc Medicine by 139.3% in the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company's stock valued at $5,549,000 after acquiring an additional 44,163 shares during the period. Finally, BlackRock Inc. purchased a new stake in Disc Medicine during the 2nd quarter valued at about $180,502,000. 83.70% of the stock is owned by institutional investors and hedge funds.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company's pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.

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