Disc Medicine (NASDAQ:IRON) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Disc Medicine (NASDAQ:IRON - Free Report) in a report released on Tuesday,Benzinga reports. They currently have a $118.00 price target on the stock.

IRON has been the topic of several other research reports. Cantor Fitzgerald lifted their price objective on Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Scotiabank lifted their price target on Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. BMO Capital Markets increased 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. TD Cowen initiated coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a "buy" rating on the stock. Finally, Raymond James Financial initiated coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price target for the company. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $96.70.

Disc Medicine Price Performance

IRON traded up $1.52 during midday trading on Tuesday, hitting $51.61. The stock had a trading volume of 413,971 shares, compared to its average volume of 346,039. The company has a market cap of $1.79 billion, a P/E ratio of -13.17 and a beta of 0.73. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $68.73. The business has a fifty day moving average of $46.96 and a 200 day moving average of $52.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 37.65 and a current ratio of 37.65.

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

Insider Activity

In other news, CFO Jean M. Franchi sold 2,000 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $52.26, for a total value of $104,520.00. Following the completion of the sale, the chief financial officer now directly owns 67,530 shares of the company's stock, valued at approximately $3,529,117.80. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mona Ashiya sold 5,738 shares of Disc Medicine stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $54.11, for a total transaction of $310,483.18. Following the sale, the director now directly owns 186,541 shares in the company, valued at $10,093,733.51. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,511 shares of company stock valued at $1,004,277. Company insiders own 4.24% of the company's stock.

Hedge Funds Weigh In On Disc Medicine

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