Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Recommendation of “Buy” from Brokerages

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have earned a consensus rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $87.50.

IRON has been the subject of several analyst reports. Scotiabank raised their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Tuesday, November 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Disc Medicine in a research note on Monday, December 9th.

Disc Medicine Stock Performance

Shares of Disc Medicine stock opened at $63.82 on Friday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -16.04 and a beta of 0.75. The stock has a 50 day moving average price of $61.89 and a 200-day moving average price of $52.19. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Sell-side analysts predict that Disc Medicine will post -4.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Jacob Savage sold 9,158 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now owns 40,405 shares of the company’s stock, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,258 shares of company stock worth $4,930,365. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IRON. Amalgamated Bank grew its stake in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares in the last quarter. Quest Partners LLC acquired a new stake in Disc Medicine in the third quarter worth about $131,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Disc Medicine during the second quarter worth about $129,000. Finally, Quantbot Technologies LP acquired a new position in shares of Disc Medicine during the third quarter valued at about $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.