Disc Medicine, Inc. (NASDAQ:IRON) Receives $93.80 Average Price Target from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has been given an average rating of “Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $93.80.

IRON has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley reiterated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Friday, March 7th. HC Wainwright restated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, TD Cowen initiated coverage on Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating for the company.

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 19,820 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,550,184.10. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 on Thursday, January 2nd. The stock was 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 owns 14,035 shares of the company’s stock, valued at $880,696.25. 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 396,284 shares of company stock worth $21,865,764 in the last 90 days. Corporate insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of 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 acquiring an additional 503 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Disc Medicine in the 4th quarter valued at $40,000. Tower Research Capital LLC TRC increased its stake in Disc Medicine by 47.6% during 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 in the last quarter. Quest Partners LLC acquired a new position in Disc Medicine during the third quarter worth $131,000. Finally, Quantbot Technologies LP acquired a new position in Disc Medicine during the third quarter worth $146,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

NASDAQ IRON opened at $52.24 on Thursday. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $68.73. The stock has a market cap of $1.81 billion, a PE ratio of -13.13 and a beta of 0.73. The firm’s fifty day moving average price is $55.26 and its two-hundred day moving average price is $56.06.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, sell-side analysts predict that Disc Medicine will post -4.07 earnings per share for the current fiscal 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.