Disc Medicine (NASDAQ:IRON) Issues Earnings Results, Beats Expectations By $0.15 EPS

Disc Medicine (NASDAQ:IRON) posted its quarterly earnings data on Tuesday. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15, Briefing.com reports.

Disc Medicine Stock Down 5.0 %

NASDAQ IRON opened at $63.26 on Wednesday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The business’s fifty day moving average is $50.53 and its 200 day moving average is $44.51. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -17.24 and a beta of 0.60.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IRON. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $83.00 price target (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday. Jefferies Financial Group started 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $81.00.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is currently owned by insiders.

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.