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

Disc Medicine (NASDAQ:IRON - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Wedbush in a report released on Monday,RTT News reports. They currently have a $90.00 price objective on the stock. Wedbush's price objective suggests a potential upside of 48.17% from the stock's current price.

Other analysts have also recently issued reports about the stock. HC Wainwright restated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. BMO Capital Markets upped their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Raymond James Financial assumed coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target on the stock. Truist Financial began coverage on shares of Disc Medicine in a research note on Monday. They issued a "buy" rating and a $86.00 target price on the stock. Finally, Morgan Stanley started coverage on shares of Disc Medicine in a report on Thursday, July 3rd. They set an "overweight" rating and a $85.00 price target for the company. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $95.73.

Disc Medicine Trading Up 2.3%

Shares of Disc Medicine stock traded up $1.36 during trading hours on Monday, hitting $60.74. The company's stock had a trading volume of 300,271 shares, compared to its average volume of 343,284. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.65 and a quick ratio of 37.65. The company has a market capitalization of $2.10 billion, a PE ratio of -15.49 and a beta of 0.76. Disc Medicine has a 12 month low of $30.82 and a 12 month high of $68.73. The stock has a 50 day moving average of $51.32 and a 200 day moving average of $51.41.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly 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 predict that Disc Medicine will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jean M. Franchi sold 2,031 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the transaction, the chief financial officer directly owned 63,499 shares in the company, valued at $3,746,441. The trade was a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Jacob Savage sold 6,677 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total transaction of $334,117.08. Following the transaction, the insider directly owned 59,721 shares of the company's stock, valued at approximately $2,988,438.84. This represents a 10.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,804 shares of company stock valued at $3,140,575 over the last quarter. Insiders own 4.24% of the company's stock.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its stake in Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after purchasing an additional 503 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after purchasing an additional 219 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Disc Medicine during the 4th quarter valued at $40,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Disc Medicine by 13,428.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock valued at $47,000 after acquiring an additional 940 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after buying an additional 266 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.