Analysts Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $93.80

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given a consensus recommendation of “Buy” by the eleven brokerages that are covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $93.80.

Several research analysts have recently weighed in on IRON shares. TD Cowen began coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating for the company. Scotiabank increased their price objective on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Cantor Fitzgerald increased their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st.

Insider Transactions at Disc Medicine

In other news, insider William Jacob Savage sold 2,100 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now directly owns 66,398 shares in the company, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pamela Stephenson sold 3,137 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the completion of the transaction, the insider now owns 69,529 shares in the company, valued at approximately $3,794,892.82. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,290 shares of company stock worth $19,336,901. 4.24% of the stock is currently owned by insiders.

Institutional Trading of Disc Medicine

A number of large investors have recently modified their holdings of the company. FMR LLC increased its holdings in shares of Disc Medicine by 358.7% in the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after acquiring an additional 1,459,434 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after acquiring an additional 262,690 shares during the period. Vanguard Group Inc. increased its holdings in shares of Disc Medicine by 22.2% in the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company’s stock worth $64,782,000 after acquiring an additional 236,800 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after acquiring an additional 467,988 shares during the period. Finally, Woodline Partners LP increased its holdings in shares of Disc Medicine by 5.2% in the 4th quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock worth $25,144,000 after acquiring an additional 19,538 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Trading Down 0.1%

Shares of IRON stock opened at $44.24 on Friday. The company has a market capitalization of $1.53 billion, a PE ratio of -11.12 and a beta of 0.77. The firm has a fifty day simple moving average of $46.93 and a 200-day simple moving average of $54.98. Disc Medicine has a twelve month low of $30.65 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Equities research analysts predict that Disc Medicine will post -4.07 EPS 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.