Disc Medicine (NASDAQ:IRON) Raised to Hold at Wall Street Zen

Disc Medicine (NASDAQ:IRON) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently issued reports on IRON. Truist Financial upped their target price on shares of Disc Medicine from $83.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, October 19th. Wedbush increased their price target on shares of Disc Medicine from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 19th. Cantor Fitzgerald raised their price target on shares of Disc Medicine from $125.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a report on Thursday, October 15th. Finally, Morgan Stanley upped their price objective on Disc Medicine from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Tuesday, October 20th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.40.

Disc Medicine Stock Performance

NASDAQ IRON opened at $78.91 on Friday. Disc Medicine has a 12 month low of $40.00 and a 12 month high of $99.50. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average price is $71.21 and its 200-day moving average price is $70.93. The stock has a market cap of $3.03 billion, a P/E ratio of -12.45 and a beta of 0.96.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($1.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.63) by $0.10. As a group, equities analysts forecast that Disc Medicine will post -6.54 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Quisel sold 33,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $79.15, for a total transaction of $2,611,950.00. Following the transaction, the chief executive officer owned 226,064 shares in the company, valued at $17,892,965.60. This represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Yu sold 8,796 shares of Disc Medicine stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the sale, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at approximately $4,515,410.88. This trade represents a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 168,046 shares of company stock valued at $13,191,034 over the last three months. Insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in Disc Medicine in the 2nd quarter worth approximately $1,350,000. Bank of America Corp DE bought a new position in Disc Medicine in the 2nd quarter worth approximately $9,882,000. Squarepoint Ops LLC boosted its stake in Disc Medicine by 139.3% in the 2nd quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock worth $5,549,000 after purchasing an additional 44,163 shares during the period. Opaleye Management Inc. grew its holdings in Disc Medicine by 103.1% during the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock valued at $62,535,000 after buying an additional 434,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Disc Medicine by 191.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock valued at $73,280,000 after buying an additional 735,300 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function.

The company’s development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.