Disc Medicine, Inc. (NASDAQ:IRON) Given Consensus Rating of “Buy” by Brokerages

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $85.80.

Several brokerages recently issued reports on IRON. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price for the company. Scotiabank boosted their target price 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. HC Wainwright boosted their price target on shares of Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company.

Insider Activity

In other news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of IRON. Amalgamated Bank raised 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 acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Disc Medicine by 45.7% during the 3rd 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. The Manufacturers Life Insurance Company raised its stake in Disc Medicine by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after acquiring an additional 771 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 worth $239,000 after acquiring an additional 793 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Disc Medicine by 23.0% during the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after acquiring an additional 856 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $60.67 on Friday. The firm has a market cap of $1.80 billion, a PE ratio of -15.24 and a beta of 0.60. The firm’s 50 day simple moving average is $51.02 and its 200-day simple moving average is $44.75. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.15. Equities research analysts predict that Disc Medicine will post -4.15 EPS for the current fiscal year.

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.