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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received a consensus rating of “Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $93.80.

A number of research firms recently weighed in on IRON. Cantor Fitzgerald increased their price target on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. TD Cowen began coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating on the stock. Finally, Scotiabank boosted their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd.

Disc Medicine Price Performance

Disc Medicine stock opened at $38.73 on Monday. Disc Medicine has a fifty-two week low of $25.64 and a fifty-two week high of $68.73. The firm has a market capitalization of $1.34 billion, a PE ratio of -9.73 and a beta of 0.77. The company’s 50-day moving average is $50.88 and its 200-day moving average is $55.57.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. As a group, analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insider Activity

In related news, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.54, for a total value of $416,550.00. Following the transaction, the insider now owns 14,035 shares in the company, valued at approximately $779,503.90. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mona Ashiya sold 202,146 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $54.29, for a total value of $10,974,506.34. Following the completion of the transaction, the director now directly owns 208,742 shares of the company’s stock, valued at approximately $11,332,603.18. This trade represents a 49.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,690 shares of company stock worth $19,648,094. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after purchasing an additional 503 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Disc Medicine in the 4th quarter valued at $40,000. Tower Research Capital LLC TRC increased its stake in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after purchasing an additional 266 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Disc Medicine during the 4th quarter worth $235,000. Finally, Fiduciary Trust Co bought a new stake in shares of Disc Medicine during the 4th quarter worth $257,000. Institutional investors and hedge funds 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.