Disc Medicine, Inc. (NASDAQ:IRON) Receives $95.73 Average Price Target from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has received an average rating of “Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $98.30.

Several analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Disc Medicine in a research note on Monday, July 21st. They issued a “buy” rating and a $86.00 target price for the company. Morgan Stanley upped their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Thursday, July 3rd. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Disc Medicine in a report on Monday, July 21st. Finally, BMO Capital Markets boosted their price target 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.

Disc Medicine Stock Performance

NASDAQ IRON opened at $60.35 on Friday. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $68.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -13.50 and a beta of 0.77. The company has a fifty day moving average price of $56.87 and a 200-day moving average price of $51.66.

Disc Medicine (NASDAQ:IRON) last posted its earnings results 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). As a group, equities research analysts predict that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In related news, CFO Jean M. Franchi sold 2,031 shares of the business’s stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the transaction, the chief financial officer directly owned 63,499 shares of the company’s stock, valued at approximately $3,746,441. The trade was a 3.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Jacob Savage sold 2,996 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $50.00, for a total transaction of $149,800.00. Following the completion of the transaction, the insider directly owned 56,725 shares in the company, valued at $2,836,250. This trade represents a 5.02% 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 over the last quarter. Corporate insiders own 3.64% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in IRON. RA Capital Management L.P. purchased a new stake in Disc Medicine during the first quarter valued at about $78,288,000. Siren L.L.C. purchased a new stake in shares of Disc Medicine in the first quarter worth about $53,207,000. Wellington Management Group LLP increased its position in shares of Disc Medicine by 67.9% in the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock worth $116,331,000 after purchasing an additional 948,094 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after purchasing an additional 467,988 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Disc Medicine by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after purchasing an additional 262,690 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.