Disc Medicine (NASDAQ:IRON) Stock Rating Upgraded by Wall Street Zen

Disc Medicine (NASDAQ:IRON) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research firms have also issued reports on IRON. Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Disc Medicine in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and issued a $90.00 price objective on shares of Disc Medicine in a research note on Monday, August 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Disc Medicine in a report on Tuesday, September 1st. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Disc Medicine in a research report on Thursday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $128.00 price target on shares of Disc Medicine in a report on Thursday. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.55.

Disc Medicine Stock Performance

Shares of IRON stock opened at $70.06 on Friday. The business has a fifty day moving average of $77.80 and a 200 day moving average of $70.89. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The firm has a market capitalization of $268.33 million, a price-to-earnings ratio of -10.65 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last posted 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, research analysts expect that Disc Medicine will post -6.61 earnings per share for the current year.

Insider Activity

In other news, insider Rahul Khara sold 5,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the insider directly owned 52,324 shares of the company’s stock, valued at $4,185,920. This represents a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John D. Quisel sold 33,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $79.15, for a total value of $2,611,950.00. Following the sale, the chief executive officer owned 226,064 shares in the company, valued at $17,892,965.60. This trade represents a 12.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 209,797 shares of company stock valued at $15,934,791. 3.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Disc Medicine

Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in Disc Medicine by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 6,844 shares of the company’s stock valued at $501,000 after purchasing an additional 160 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Disc Medicine by 3.3% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock worth $533,000 after purchasing an additional 215 shares during the last quarter. AlphaCentric Advisors LLC grew its holdings in shares of Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock worth $254,000 after buying an additional 216 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Disc Medicine by 3.3% during the fourth quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock worth $740,000 after buying an additional 296 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Disc Medicine in the second quarter valued at about $25,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.