Disc Medicine (NASDAQ:IRON) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their outperform rating on shares of Disc Medicine (NASDAQ:IRON) in a report issued on Friday morning, RTT News reports. Wedbush currently has a $57.00 price objective on the stock, up from their prior price objective of $43.00.

A number of other research firms have also issued reports on IRON. Morgan Stanley decreased their target price on Disc Medicine from $75.00 to $40.00 and set an equal weight rating for the company in a report on Tuesday, April 2nd. Raymond James lifted their target price on Disc Medicine from $40.00 to $43.00 and gave the company an outperform rating in a report on Friday, May 10th. Stifel Nicolaus lifted their target price on Disc Medicine from $71.00 to $73.00 and gave the company a buy rating in a report on Monday, April 8th. HC Wainwright restated a buy rating and issued a $70.00 price target on shares of Disc Medicine in a research note on Friday. Finally, BMO Capital Markets cut their price target on Disc Medicine from $80.00 to $50.00 and set an outperform rating on the stock in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Disc Medicine presently has a consensus rating of Moderate Buy and an average target price of $62.57.

Disc Medicine Stock Down 3.0 %

IRON opened at $44.86 on Friday. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The business has a fifty day simple moving average of $32.45 and a 200-day simple moving average of $51.12. The firm has a market cap of $1.11 billion, a P/E ratio of -13.27 and a beta of 0.50.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). Sell-side analysts expect that Disc Medicine will post -4.67 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in shares of Disc Medicine by 59.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after purchasing an additional 353,382 shares during the last quarter. First Turn Management LLC acquired a new position in Disc Medicine in the 4th quarter valued at $9,084,000. Jennison Associates LLC increased its holdings in shares of Disc Medicine by 349.1% during the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock worth $12,031,000 after buying an additional 150,209 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Disc Medicine by 12.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after buying an additional 145,781 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 19.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after buying an additional 130,000 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.