Disc Medicine, Inc. (NASDAQ:IRON) Receives $95.73 Average PT from Analysts

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given a consensus recommendation of “Buy” by the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $96.1818.

A number of brokerages recently issued reports on IRON. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Disc Medicine in a report on Monday, July 21st. BMO Capital Markets lifted their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Morgan Stanley lifted their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Thursday, July 3rd. Finally, Truist Financial initiated coverage on shares of Disc Medicine in a report on Monday, July 21st. They issued a “buy” rating and a $86.00 target price on the stock.

Disc Medicine Stock Down 1.1%

NASDAQ:IRON opened at $58.18 on Friday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -13.02 and a beta of 0.77. Disc Medicine has a 1-year low of $30.82 and a 1-year high of $68.73. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $56.44 and its 200 day moving average price is $51.56.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, sell-side analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, CFO Jean M. Franchi sold 2,031 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the sale, the chief financial officer directly owned 63,499 shares of the company’s stock, valued at $3,746,441. This represents a 3.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Bitterman sold 7,212 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $60.99, for a total transaction of $439,859.88. Following the completion of the sale, the director directly owned 592,908 shares of the company’s stock, valued at approximately $36,161,458.92. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,622 shares of company stock valued at $7,866,795 in the last ninety days. Company insiders own 3.64% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in Disc Medicine by 12.5% in the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock valued at $264,000 after buying an additional 590 shares during the period. Amalgamated Bank increased its holdings in Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after buying an additional 219 shares during the period. Renaissance Technologies LLC bought a new stake in Disc Medicine in the 4th quarter valued at $5,479,000. Rhumbline Advisers increased its holdings in Disc Medicine by 10.7% in the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock valued at $1,596,000 after buying an additional 3,108 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Disc Medicine by 5,092.5% in the 1st quarter. GAMMA Investing LLC now owns 12,410 shares of the company’s stock valued at $616,000 after buying an additional 12,171 shares during the period. Institutional investors own 83.70% of the company’s stock.

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.