Disc Medicine, Inc. (NASDAQ:IRON) Receives Consensus Rating of “Buy” from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has received a consensus rating of “Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $93.80.

A number of research firms have recently issued reports on IRON. Scotiabank increased their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. 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 report on Tuesday, March 18th. Wedbush reiterated an “outperform” rating and set a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. 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. Finally, Stifel Nicolaus lifted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, January 24th.

Disc Medicine Stock Down 0.6 %

IRON opened at $52.49 on Thursday. The company has a 50 day moving average of $54.90 and a two-hundred day moving average of $56.13. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $68.73. The company has a market cap of $1.81 billion, a P/E ratio of -13.19 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. Research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Activity at Disc Medicine

In related news, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John D. Quisel sold 13,012 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $61.95, for a total value of $806,093.40. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,464,426.75. This represents a 15.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,202 shares of company stock valued at $20,924,812 over the last ninety days. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in shares of Disc Medicine in the 4th quarter worth about $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Disc Medicine by 399.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company’s stock worth $5,903,000 after acquiring an additional 74,454 shares during the period. Woodline Partners LP lifted its holdings in Disc Medicine by 5.2% in the fourth 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 last quarter. ProShare Advisors LLC boosted its stake in Disc Medicine by 26.5% in the fourth quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock valued at $442,000 after acquiring an additional 1,458 shares during the period. Finally, MPM Bioimpact LLC grew its holdings in shares of Disc Medicine by 11.1% during the fourth quarter. MPM Bioimpact LLC now owns 346,401 shares of the company’s stock valued at $21,962,000 after purchasing an additional 34,640 shares during the last quarter. Institutional investors and hedge funds 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.