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

Disc Medicine, Inc. (NASDAQ:IRON) has been assigned a consensus recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $88.90.

Several brokerages have recently weighed in on IRON. Scotiabank boosted their target price on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Wednesday, January 22nd. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Stifel Nicolaus upped their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th.

Disc Medicine Stock Performance

Shares of IRON stock opened at $54.32 on Wednesday. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm has a market capitalization of $1.62 billion, a P/E ratio of -13.65 and a beta of 0.74. The stock’s fifty day moving average is $61.66 and its two-hundred day moving average is $54.29.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, equities analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other news, insider William Jacob Savage sold 9,158 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the sale, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. This represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.54, for a total transaction of $416,550.00. Following the sale, the insider now directly owns 14,035 shares in the company, valued at approximately $779,503.90. The trade was a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,921 shares of company stock valued at $5,389,978 over the last quarter. 4.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IRON. Amalgamated Bank increased its position in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares in the last quarter. Quest Partners LLC purchased a new position in Disc Medicine in the third quarter valued at $131,000. Quantbot Technologies LP acquired a new stake in Disc Medicine in the third quarter valued at $146,000. Finally, Intech Investment Management LLC purchased a new stake in Disc Medicine during the 3rd quarter worth about $228,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.