Disc Medicine’s (IRON) “Outperform” Rating Reiterated at Wedbush

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $83.00 price target on the stock, up from their previous price target of $75.00. Wedbush’s target price would suggest a potential upside of 31.20% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, Scotiabank lifted their price target 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and an average target price of $81.00.

Disc Medicine Stock Performance

IRON stock traded down $3.31 during midday trading on Tuesday, hitting $63.26. 334,854 shares of the stock were exchanged, compared to its average volume of 356,574. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -17.24 and a beta of 0.60. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The stock’s 50-day moving average price is $50.26 and its 200-day moving average price is $44.26.

Insiders Place Their Bets

In other news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 7,538 shares of company stock worth $437,875 over the last three months. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. Amalgamated Bank raised its stake in shares of Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Disc Medicine in the second quarter worth about $129,000. Quest Partners LLC purchased a new position in Disc Medicine in the third quarter valued at about $131,000. Finally, SG Americas Securities LLC grew its stake in Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after purchasing an additional 1,247 shares in the last quarter. 83.70% of the stock is 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.