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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $98.30.

A number of research firms have weighed in on IRON. HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Thursday, July 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research note on Wednesday. Truist Financial began coverage on Disc Medicine in a research note on Monday, July 21st. They issued a “buy” rating and a $86.00 price target on the stock. Morgan Stanley upped their price target on Disc Medicine from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Disc Medicine in a research note on Monday, July 21st.

Disc Medicine Stock Performance

NASDAQ IRON opened at $69.90 on Monday. The stock’s fifty day moving average is $61.86 and its two-hundred day moving average is $53.81. The firm has a market capitalization of $2.43 billion, a P/E ratio of -15.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. Disc Medicine has a fifty-two week low of $30.82 and a fifty-two week high of $72.68.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.41). On average, research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Activity

In other news, Director Kevin Bitterman sold 71,961 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $70.58, for a total value of $5,079,007.38. Following the transaction, the director owned 500,621 shares in the company, valued at approximately $35,333,830.18. This represents a 12.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jean M. Franchi sold 2,031 shares of the 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 completion of the transaction, the chief financial officer owned 63,499 shares in the company, valued at approximately $3,746,441. The trade was a 3.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,913 shares of company stock worth $11,737,613. 3.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently modified their holdings of IRON. Millennium Management LLC purchased a new position in shares of Disc Medicine during the fourth quarter worth approximately $500,000. GAMMA Investing LLC grew its stake in shares of Disc Medicine by 5,092.5% in the 1st quarter. GAMMA Investing LLC now owns 12,410 shares of the company’s stock valued at $616,000 after purchasing an additional 12,171 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Disc Medicine by 10.7% in the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock valued at $1,596,000 after purchasing an additional 3,108 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Disc Medicine by 77.4% in the 1st quarter. SG Americas Securities LLC now owns 14,329 shares of the company’s stock valued at $711,000 after purchasing an additional 6,253 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after buying an additional 219 shares during the period. 83.70% of the stock is currently 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.