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

Key Points

• Wedbush reiterated its Outperform rating on Disc Medicine and kept a $88 price target, implying about 26% upside from the stock’s current price.
• Other analysts remain broadly positive, with the overall consensus at Moderate Buy and an average target price of $105.30, though several firms recently trimmed their price targets.
• Disc Medicine shares rose 2.1% to $69.79 on Wednesday, and the company recently reported a quarterly loss of $1.65 per share, slightly worse than estimates.

Disc Medicine (NASDAQ:IRON - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Wedbush in a report issued on Wednesday,Benzinga reports. They currently have a $88.00 price target on the stock. Wedbush's price target indicates a potential upside of 26.09% from the stock's current price.

IRON has been the subject of a number of other research reports. Wells Fargo & Company raised their target price on shares of Disc Medicine from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Monday, March 2nd. BMO Capital Markets cut their price target on Disc Medicine from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. Cantor Fitzgerald reduced their price objective on Disc Medicine from $153.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 17th. Truist Financial reduced their price objective on Disc Medicine from $114.00 to $83.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Finally, Stifel Nicolaus dropped their target price on Disc Medicine from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.30.

Disc Medicine Stock Up 2.1%

Shares of NASDAQ:IRON traded up $1.45 during midday trading on Wednesday, reaching $69.79. The company's stock had a trading volume of 25,422 shares, compared to its average volume of 582,904. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $67.88 and a 200-day moving average of $72.94. The firm has a market capitalization of $2.66 billion, a P/E ratio of -10.51 and a beta of 0.93. Disc Medicine has a 12-month low of $40.00 and a 12-month high of $99.50.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.62) by ($0.03). On average, research analysts anticipate that Disc Medicine will post -6.74 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, CFO Jean M. Franchi sold 6,257 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $69.24, for a total value of $433,234.68. Following the transaction, the chief financial officer owned 64,333 shares in the company, valued at $4,454,416.92. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William Jacob Savage sold 5,731 shares of Disc Medicine stock in a transaction on Monday, April 13th. The stock was sold at an average price of $66.38, for a total transaction of $380,423.78. Following the transaction, the insider owned 79,480 shares in the company, valued at $5,275,882.40. This represents a 6.73% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,388 shares of company stock worth $841,258. 3.76% of the stock is owned by corporate insiders.

Institutional Trading of Disc Medicine

Several institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Disc Medicine by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 6,654 shares of the company's stock worth $440,000 after acquiring an additional 120 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Disc Medicine by 2.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,094 shares of the company's stock valued at $469,000 after acquiring an additional 138 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Disc Medicine by 3.3% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company's stock valued at $533,000 after purchasing an additional 215 shares in the last quarter. AlphaCentric Advisors LLC grew its holdings in shares of Disc Medicine by 5.8% in the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company's stock valued at $254,000 after purchasing an additional 216 shares in the last quarter. Finally, Avanza Fonder AB increased its position in Disc Medicine by 14.1% in the fourth quarter. Avanza Fonder AB now owns 1,903 shares of the company's stock worth $151,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company's pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.

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