Disc Medicine (NASDAQ:IRON) Now Covered by Analysts at Raymond James

Equities research analysts at Raymond James assumed coverage on shares of Disc Medicine (NASDAQ:IRON - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set a "strong-buy" rating and a $89.00 price target on the stock. Raymond James' target price would indicate a potential upside of 65.70% from the company's current price.

IRON has been the subject of several other research reports. Morgan Stanley reiterated an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. Cantor Fitzgerald lifted their price objective on Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. TD Cowen assumed coverage on Disc Medicine in a research note on Thursday, February 27th. They issued a "buy" rating for the company. Scotiabank lifted their price objective 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 lifted their price objective 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Disc Medicine currently has a consensus rating of "Buy" and an average price target of $96.70.

Disc Medicine Trading Up 1.9%

Disc Medicine stock traded up $1.00 during midday trading on Wednesday, reaching $53.71. 705,215 shares of the stock traded hands, compared to its average volume of 348,602. The company has a 50-day simple moving average of $45.86 and a two-hundred day simple moving average of $53.26. Disc Medicine has a 12-month low of $30.82 and a 12-month high of $68.73. The firm has a market cap of $1.86 billion, a PE ratio of -13.49 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). Equities research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In other Disc Medicine news, insider William Jacob Savage sold 2,996 shares of Disc Medicine stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $50.00, for a total transaction of $149,800.00. Following the transaction, the insider now owns 56,725 shares of the company's stock, valued at $2,836,250. The trade was a 5.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mona Ashiya sold 10,011 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were 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. The trade was 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. Company insiders own 4.24% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of Disc Medicine in the fourth quarter valued at approximately $5,479,000. Barclays PLC increased its holdings in shares of Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company's stock valued at $1,972,000 after purchasing an additional 22,202 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of Disc Medicine in the fourth quarter valued at approximately $335,000. Deutsche Bank AG increased its holdings in shares of Disc Medicine by 75.7% in the fourth quarter. Deutsche Bank AG now owns 16,093 shares of the company's stock valued at $1,020,000 after purchasing an additional 6,933 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Disc Medicine in the fourth quarter valued at approximately $5,579,000. Institutional investors and hedge funds own 83.70% of the company's stock.

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.