Disc Medicine, Inc. (NASDAQ:IRON) Given Average Recommendation of “Moderate Buy” by Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $57.29.

IRON has been the subject of several analyst reports. Raymond James reaffirmed an “outperform” rating and set a $40.00 target price (down from $75.00) on shares of Disc Medicine in a research report on Monday, April 1st. Stifel Nicolaus lifted their price objective on Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wedbush reissued an “outperform” rating and issued a $43.00 price objective (down from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research report on Monday, April 1st. Finally, Morgan Stanley lowered their price objective on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd.

Disc Medicine Stock Up 2.7 %

NASDAQ IRON opened at $29.79 on Monday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The company has a market cap of $719.13 million, a price-to-earnings ratio of -8.54 and a beta of 0.44. The business’s fifty day moving average is $47.32 and its 200 day moving average is $54.08.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, research analysts anticipate that Disc Medicine will post -4.44 earnings per share for the current fiscal year.

Insider Activity

In other Disc Medicine news, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in IRON. Bank of New York Mellon Corp boosted its stake in Disc Medicine by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 30,550 shares of the company’s stock valued at $1,435,000 after purchasing an additional 5,567 shares during the last quarter. Strs Ohio acquired a new position in Disc Medicine during the 3rd quarter valued at about $28,000. TD Asset Management Inc boosted its stake in Disc Medicine by 260.5% during the 3rd quarter. TD Asset Management Inc now owns 20,214 shares of the company’s stock valued at $950,000 after purchasing an additional 14,607 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Disc Medicine during the 3rd quarter valued at about $6,461,000. Finally, Barclays PLC boosted its stake in Disc Medicine by 1,932.3% during the 3rd quarter. Barclays PLC now owns 31,561 shares of the company’s stock valued at $1,483,000 after purchasing an additional 30,008 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.