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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $62.57.

Several research firms recently commented on IRON. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, May 28th. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a report on Friday, June 14th. Stifel Nicolaus lifted their price objective on Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wedbush reiterated an “outperform” rating and issued a $57.00 price objective (up from $43.00) on shares of Disc Medicine in a report on Friday, June 14th. Finally, Raymond James raised their target price on Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th.

Insiders Place Their Bets

In other news, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its position in shares of Disc Medicine by 37.2% during the 1st quarter. California State Teachers Retirement System now owns 11,800 shares of the company’s stock valued at $735,000 after buying an additional 3,200 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Disc Medicine by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 521,773 shares of the company’s stock valued at $32,465,000 after buying an additional 78,595 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Disc Medicine by 59.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after buying an additional 353,382 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Disc Medicine by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 782,751 shares of the company’s stock valued at $48,734,000 after buying an additional 18,207 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Disc Medicine during the 1st quarter valued at about $7,429,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Trading Up 1.8 %

Shares of Disc Medicine stock opened at $44.98 on Tuesday. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The business has a fifty day simple moving average of $33.90 and a two-hundred day simple moving average of $50.60. The firm has a market capitalization of $1.11 billion, a P/E ratio of -13.31 and a beta of 0.51.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.09). Analysts predict that Disc Medicine will post -4.56 earnings per share for the current year.

About Disc Medicine

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.