Disc Medicine (NASDAQ:IRON) Given Outperform Rating at Wedbush

Disc Medicine (NASDAQ:IRON)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued on Monday, RTT News reports. They presently have a $75.00 price objective on the stock, up from their previous price objective of $60.00. Wedbush’s price target points to a potential upside of 28.76% from the company’s previous close.

A number of other research firms also recently issued reports on IRON. Wells Fargo & Company began coverage on Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Monday, October 28th. Jefferies Financial Group assumed coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $66.00 to $110.00 in a report on Monday. Finally, Scotiabank began coverage on Disc Medicine in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 price objective on the stock. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $74.90.

Disc Medicine Stock Performance

Shares of Disc Medicine stock traded up $11.12 on Monday, hitting $58.25. The company had a trading volume of 2,085,356 shares, compared to its average volume of 352,495. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -15.87 and a beta of 0.61. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The stock has a 50 day moving average of $48.58 and a 200-day moving average of $42.74.

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

Institutional Trading of Disc Medicine

Several large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Disc Medicine by 96.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock worth $281,000 after purchasing an additional 2,813 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares in the last quarter. SG Americas Securities LLC raised its stake in Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after buying an additional 793 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Disc Medicine during the 2nd quarter valued at $636,000. Finally, Nantahala Capital Management LLC purchased a new stake in Disc Medicine during the 2nd quarter valued at $6,760,000. 83.70% of the stock is 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.