Raymond James Initiates Coverage on Disc Medicine (NASDAQ:IRON)

Research analysts at Raymond James initiated coverage on shares of Disc Medicine (NASDAQ:IRON - Get Free Report) in a report issued on Wednesday, Marketbeat reports. The brokerage set a "strong-buy" rating and a $89.00 price target on the stock. Raymond James' price target would indicate a potential upside of 69.07% from the company's previous close.

Other equities research analysts have also issued reports about the stock. TD Cowen started coverage on shares of Disc Medicine in a report on Thursday, February 27th. They set a "buy" rating for the company. Cantor Fitzgerald lifted their price target on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Morgan Stanley reiterated an "overweight" rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. Scotiabank raised 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. Finally, BMO Capital Markets lifted their target price on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a report 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $96.70.

Disc Medicine Stock Up 3.5%

IRON stock traded up $1.78 during trading on Wednesday, reaching $52.64. The company's stock had a trading volume of 212,567 shares, compared to its average volume of 413,407. The company's fifty day moving average is $45.20 and its 200-day moving average is $53.48. The company has a market capitalization of $1.82 billion, a P/E ratio of -13.23 and a beta of 0.73. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $68.73.

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

Insider Buying and Selling

In related news, insider William Jacob Savage sold 2,996 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $50.00, for a total value of $149,800.00. Following the completion of the sale, the insider now directly owns 56,725 shares in the company, valued at $2,836,250. This trade represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mona Ashiya sold 10,011 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $54.00, for a total transaction of $540,594.00. Following the completion of the sale, the director now directly owns 187,297 shares in the company, valued at approximately $10,114,038. This represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,178 shares of company stock worth $3,582,568. Corporate insiders own 4.24% of the company's stock.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Disc Medicine by 67.9% during the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock valued at $116,331,000 after buying an additional 948,094 shares during the period. FMR LLC boosted its holdings in Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company's stock valued at $118,320,000 after acquiring an additional 1,459,434 shares during the period. RA Capital Management L.P. bought a new position in Disc Medicine in the 1st quarter valued at $78,288,000. Price T Rowe Associates Inc. MD grew its position in Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company's stock valued at $88,421,000 after acquiring an additional 262,690 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Disc Medicine by 22.2% in the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock worth $64,782,000 after purchasing an additional 236,800 shares during the period. 83.70% of the stock is 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.