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

Disc Medicine, Inc. (NASDAQ:IRON) has been given a consensus rating of “Buy” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Ten equities 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 target price among brokers that have updated their coverage on the stock in the last year is $98.80.

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Morgan Stanley restated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. BMO Capital Markets boosted their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday. Wedbush restated an “outperform” rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, HC Wainwright restated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st.

Disc Medicine Stock Up 3.0%

Shares of IRON opened at $47.09 on Friday. The business’s 50 day moving average price is $46.21 and its 200-day moving average price is $54.87. Disc Medicine has a 52 week low of $30.65 and a 52 week high of $68.73. The stock has a market cap of $1.63 billion, a P/E ratio of -11.83 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). On average, equities analysts anticipate that Disc Medicine will post -4.07 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, insider Pamela Stephenson sold 3,137 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,217.46. Following the completion of the sale, the insider now directly owns 69,529 shares in the company, valued at approximately $3,794,892.82. The trade was a 4.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Jacob Savage sold 2,100 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00. Following the sale, the insider now owns 66,398 shares of the company’s stock, valued at approximately $3,331,187.66. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,290 shares of company stock worth $19,336,901. Insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC increased its stake in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 503 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Disc Medicine in the 4th quarter worth $40,000. Amalgamated Bank increased its stake in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company’s stock worth $39,000 after purchasing an additional 219 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Disc Medicine by 13,428.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock worth $47,000 after purchasing an additional 940 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.