HC Wainwright Boosts Disc Medicine (NASDAQ:IRON) Price Target to $120.00

Disc Medicine (NASDAQ:IRON) had its price target hoisted by HC Wainwright from $118.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 54.96% from the stock’s current price. HC Wainwright also issued estimates for Disc Medicine’s FY2029 earnings at $1.03 EPS and FY2030 earnings at $7.34 EPS.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Wall Street Zen raised shares of Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Wedbush reissued an “outperform” rating and set a $88.00 price objective on shares of Disc Medicine in a research note on Wednesday, June 10th. Finally, Morgan Stanley upped their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $77.44 on Thursday. The firm has a market capitalization of $2.96 billion, a P/E ratio of -11.77 and a beta of 1.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The stock has a 50 day moving average price of $73.59 and a 200-day moving average price of $69.79. Disc Medicine has a 52-week low of $40.00 and a 52-week high of $99.50.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($1.71) by $0.17. As a group, equities research analysts anticipate that Disc Medicine will post -6.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John D. Quisel sold 34,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.21, for a total value of $2,387,140.00. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares in the company, valued at $15,871,953.44. The trade was a 13.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $69.19, for a total value of $1,287,764.28. Following the completion of the transaction, the chief operating officer directly owned 54,324 shares in the company, valued at $3,758,677.56. This trade represents a 25.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 110,712 shares of company stock valued at $7,997,536. Insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming bought a new stake in Disc Medicine in the 2nd quarter worth about $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Disc Medicine during the 4th quarter valued at about $33,000. KBC Group NV bought a new stake in shares of Disc Medicine in the fourth quarter worth approximately $80,000. Persistent Asset Partners Ltd bought a new position in Disc Medicine during the fourth quarter valued at approximately $141,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Disc Medicine by 36.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock valued at $146,000 after buying an additional 490 shares during the period. 83.70% of the stock is owned by institutional investors.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.