Disc Medicine (NASDAQ:IRON) Given Buy Rating at HC Wainwright

Disc Medicine (NASDAQ:IRONGet Free Report)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $70.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 15.49% from the stock’s current price.

IRON has been the subject of a number of other research reports. Morgan Stanley downgraded Disc Medicine from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $56.00 to $65.00 in a research report on Tuesday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Wednesday, December 20th. Wedbush reissued an “outperform” rating and issued a $84.00 price target (up previously from $79.00) on shares of Disc Medicine in a report on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of Disc Medicine from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and an average price target of $74.86.

View Our Latest Stock Analysis on IRON

Disc Medicine Stock Performance

Shares of IRON stock opened at $60.61 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of -17.37 and a beta of 0.20. Disc Medicine has a 52-week low of $18.25 and a 52-week high of $77.60. The business’s fifty day moving average is $65.76 and its 200 day moving average is $57.01.

Insider Activity

In other Disc Medicine news, Director Kevin Bitterman sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total transaction of $1,280,000.00. Following the completion of the sale, the director now directly owns 786,160 shares in the company, valued at $50,314,240. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the completion of the sale, the insider now directly owns 1,402,186 shares in the company, valued at $94,857,882.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kevin Bitterman sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the transaction, the director now owns 786,160 shares in the company, valued at approximately $50,314,240. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,000 shares of company stock valued at $13,347,500. Corporate insiders own 4.71% of the company’s stock.

Institutional Trading of Disc Medicine

Several large investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. lifted its position in shares of Disc Medicine by 12.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after purchasing an additional 145,781 shares during the period. Perceptive Advisors LLC lifted its holdings in Disc Medicine by 14.2% in the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after buying an additional 127,404 shares during the period. Frazier Life Sciences Management L.P. boosted its position in Disc Medicine by 19.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after acquiring an additional 130,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Disc Medicine by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock worth $44,160,000 after acquiring an additional 99,092 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of Disc Medicine by 280.4% in the 2nd quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock worth $28,919,000 after acquiring an additional 480,082 shares in the last quarter.

About Disc Medicine

(Get Free Report)

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.

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Analyst Recommendations for Disc Medicine (NASDAQ:IRON)

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