Disc Medicine, Inc. (NASDAQ:IRON) Receives $87.50 Consensus Target Price from Brokerages

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned an average rating of “Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $87.50.

Several research firms recently weighed in on IRON. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. HC Wainwright restated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Monday, December 9th. Wedbush reiterated an “outperform” rating and issued a $83.00 target price on shares of Disc Medicine in a research note on Monday, December 9th. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group initiated coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock.

Insider Buying and Selling

In other news, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the transaction, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. The trade was 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 firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the sale, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,758 shares of company stock valued at $5,400,990. Company insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Disc Medicine during the 2nd quarter valued at $129,000. Quest Partners LLC purchased a new position in Disc Medicine in the 3rd quarter worth $131,000. Finally, Quantbot Technologies LP bought a new stake in Disc Medicine in the third quarter worth $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $62.54 on Friday. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The business has a 50-day simple moving average of $62.87 and a 200 day simple moving average of $52.66. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -15.71 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, sell-side analysts expect that Disc Medicine will post -4.05 EPS for the current 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.