Disc Medicine (NASDAQ:IRON) Upgraded at Raymond James

Raymond James upgraded shares of Disc Medicine (NASDAQ:IRON) from an outperform rating to a strong-buy rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Raymond James currently has $110.00 price objective on the stock, up from their prior price objective of $66.00.

Other equities analysts also recently issued reports about the company. Scotiabank started coverage on Disc Medicine in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Wells Fargo & Company began coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Disc Medicine in a report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Monday, October 28th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $80.20.

Disc Medicine Stock Down 2.3 %

Shares of NASDAQ:IRON opened at $63.33 on Monday. The stock has a market capitalization of $1.88 billion, a PE ratio of -17.26 and a beta of 0.60. The firm’s 50 day moving average price is $49.66 and its 200-day moving average price is $43.48. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.08. Analysts expect that Disc Medicine will post -4.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Richard White sold 7,136 shares of the firm’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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 7,538 shares of company stock worth $437,875 in the last 90 days. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IRON. Lord Abbett & CO. LLC purchased a new stake in Disc Medicine during the first quarter valued at $7,429,000. Jennison Associates LLC lifted its holdings in shares of Disc Medicine by 349.1% in the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock valued at $12,031,000 after acquiring an additional 150,209 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after acquiring an additional 353,382 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Disc Medicine during the second quarter worth approximately $34,318,000. Finally, Frazier Life Sciences Management L.P. raised its position in Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after purchasing an additional 969,834 shares during the period. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Company Profile

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.