HC Wainwright Reiterates “Buy” Rating for Disc Medicine (NASDAQ:IRON)

HC Wainwright reissued their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a report issued on Tuesday morning,Benzinga reports. They currently have a $70.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Scotiabank began coverage on shares of Disc Medicine in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price target (up from $60.00) on shares of Disc Medicine in a research note on Monday, November 4th. Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus target price of $80.20.

Disc Medicine Price Performance

Disc Medicine stock opened at $65.00 on Tuesday. The company has a market cap of $1.93 billion, a PE ratio of -17.71 and a beta of 0.60. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The company has a fifty day moving average price of $49.94 and a two-hundred day moving average price of $43.74.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. Equities research analysts anticipate that Disc Medicine will post -4.09 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have sold 7,538 shares of company stock valued at $437,875. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC increased its holdings in Disc Medicine by 349.1% in the first 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. Swiss National Bank boosted its holdings in Disc Medicine by 50.6% in the first quarter. Swiss National Bank now owns 23,800 shares of the company’s stock worth $1,482,000 after purchasing an additional 8,000 shares in the last quarter. ProShare Advisors LLC acquired a new position in Disc Medicine during the first quarter worth $211,000. Bleakley Financial Group LLC raised its holdings in Disc Medicine by 23.0% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after buying an additional 856 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Disc Medicine in the first quarter worth about $7,429,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.