Disc Medicine, Inc. (NASDAQ:IRON) Receives $85.80 Average Price Target from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has received a consensus rating of “Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $85.80.

IRON has been the subject of a number of research analyst reports. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. HC Wainwright upped their price objective on Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Wedbush reissued an “outperform” rating and set a $83.00 price target (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th.

Insider Buying and Selling at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 7,538 shares of company stock valued at $437,875. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

A number of institutional investors have recently bought and sold shares of the company. Amalgamated Bank lifted its stake in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at $129,000. Quest Partners LLC bought a new stake in Disc Medicine in the third quarter worth $131,000. Finally, Quantbot Technologies LP acquired a new position in Disc Medicine during the third quarter worth $146,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Price Performance

Disc Medicine stock opened at $59.46 on Friday. The firm’s fifty day moving average price is $51.20 and its 200 day moving average price is $45.20. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -14.94 and a beta of 0.60. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. Analysts forecast that Disc Medicine will post -4.05 earnings per share for the current fiscal year.

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.