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

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $100.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 30.70% from the company’s previous close.

IRON has been the subject of several other research reports. Wall Street Zen cut shares of Disc Medicine from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. BMO Capital Markets restated an “outperform” rating on shares of Disc Medicine in a report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Disc Medicine in a research note on Monday, August 17th. HC Wainwright reaffirmed a “buy” rating on shares of Disc Medicine in a report on Thursday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $128.00 target price on shares of Disc Medicine in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.55.

Disc Medicine Price Performance

Disc Medicine stock opened at $76.51 on Thursday. The business’s 50-day simple moving average is $77.96 and its 200 day simple moving average is $70.76. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The stock has a market cap of $293.03 million, a price-to-earnings ratio of -11.63 and a beta of 0.97. Disc Medicine has a 12-month low of $40.00 and a 12-month high of $99.50.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.17. As a group, research analysts anticipate that Disc Medicine will post -6.61 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kevin Bitterman sold 49,164 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the sale, the director directly owned 13,499 shares in the company, valued at $1,082,214.83. This trade represents a 78.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Rahul Khara sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total transaction of $526,650.00. Following the completion of the sale, the insider owned 52,173 shares in the company, valued at $3,663,588.06. This represents a 12.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 209,797 shares of company stock valued at $15,934,791 over the last 90 days. 3.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at about $1,350,000. NEXTBio Capital Management LP bought a new stake in shares of Disc Medicine in the fourth quarter valued at about $3,397,000. DNB Asset Management AS boosted its position in shares of Disc Medicine by 1,425.8% during the fourth quarter. DNB Asset Management AS now owns 84,255 shares of the company’s stock worth $6,691,000 after buying an additional 78,733 shares during the period. Eagle Health Investments LP bought a new position in shares of Disc Medicine during the fourth quarter worth about $2,152,000. Finally, BlackRock Inc. bought a new position in shares of Disc Medicine during the second quarter worth about $180,502,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

About Disc Medicine

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.