Wedbush Reaffirms “Outperform” Rating for Disc Medicine (NASDAQ:IRON)

Wedbush reissued their outperform rating on shares of Disc Medicine (NASDAQ:IRON) in a research note published on Friday morning,RTT News reports. The firm currently has a $83.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Monday, December 9th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, Scotiabank upped their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Disc Medicine presently has a consensus rating of “Buy” and an average price target of $87.50.

Disc Medicine Stock Performance

Shares of IRON stock opened at $59.24 on Friday. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -14.88 and a beta of 0.75. The firm has a fifty day moving average of $63.46 and a 200-day moving average of $52.82.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, sell-side analysts predict that Disc Medicine will post -4.05 earnings per share for the current year.

Insiders Place Their Bets

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Richard White sold 1,957 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $64.63, for a total transaction of $126,480.91. The disclosure for this sale can be found here. Insiders have sold a total of 85,758 shares of company stock valued at $5,400,990 in the last 90 days. 4.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IRON. Atlas Venture Life Science Advisors LLC raised its position in shares of Disc Medicine by 9.7% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock valued at $113,101,000 after acquiring an additional 222,223 shares during the period. Wellington Management Group LLP raised its position in shares of Disc Medicine by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after acquiring an additional 83,731 shares during the period. Frazier Life Sciences Management L.P. raised its position in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after acquiring an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C raised its position in shares of Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares during the period. Finally, Logos Global Management LP acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at approximately $41,690,000. 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.