Disc Medicine (NASDAQ:IRON) Issues Earnings Results

Disc Medicine (NASDAQ:IRON) announced its earnings results on Thursday. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08, Zacks reports.

Disc Medicine Stock Performance

Shares of NASDAQ IRON traded up $0.98 during mid-day trading on Friday, hitting $55.48. The stock had a trading volume of 39,843 shares, compared to its average volume of 391,745. The firm has a market cap of $1.65 billion, a P/E ratio of -13.91 and a beta of 0.73. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The business has a 50 day moving average price of $58.25 and a two-hundred day moving average price of $55.44.

Insiders Place Their Bets

In related news, insider Pamela Stephenson sold 3,137 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the transaction, the insider now owns 69,529 shares in the company, valued at $3,794,892.82. The trade was a 4.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jean M. Franchi sold 3,136 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $171,162.88. Following the transaction, the chief financial officer now directly owns 69,530 shares in the company, valued at $3,794,947.40. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,037 shares of company stock valued at $4,650,001 in the last quarter. Insiders own 4.24% of the company’s stock.

Analyst Ratings Changes

IRON has been the topic of several research reports. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Tuesday, November 5th. Scotiabank increased their target price on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Wednesday, January 22nd. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. Wedbush reissued an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Disc Medicine has a consensus rating of “Buy” and a consensus price target of $88.90.

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.