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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $119.10.

IRON has been the subject of a number of research reports. National Bankshares set a $153.00 target price on shares of Disc Medicine in a research report on Friday, October 17th. Morgan Stanley upped their target price on Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Wednesday, October 8th. Truist Financial boosted their price target on Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Cantor Fitzgerald upped their price objective on Disc Medicine from $132.00 to $153.00 and gave the company an “overweight” rating in a research report on Friday, October 17th.

Insider Activity

In other Disc Medicine news, Director Kevin Bitterman sold 70,000 shares of Disc Medicine stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $88.91, for a total value of $6,223,700.00. Following the completion of the sale, the director directly owned 385,549 shares of the company’s stock, valued at approximately $34,279,161.59. The trade was a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total value of $2,541,000.00. Following the completion of the transaction, the chief operating officer owned 40,555 shares of the company’s stock, valued at $3,435,008.50. This trade represents a 42.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 213,585 shares of company stock worth $16,898,513 over the last ninety days. 3.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in IRON. Verition Fund Management LLC acquired a new position in Disc Medicine in the third quarter valued at $405,000. Vestal Point Capital LP grew its holdings in Disc Medicine by 257.1% in the 3rd quarter. Vestal Point Capital LP now owns 500,000 shares of the company’s stock valued at $33,040,000 after buying an additional 360,000 shares during the period. Palo Alto Investors LP increased its stake in shares of Disc Medicine by 54.0% during the 3rd quarter. Palo Alto Investors LP now owns 224,300 shares of the company’s stock valued at $14,822,000 after acquiring an additional 78,609 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Disc Medicine by 340.0% during the 3rd quarter. Millennium Management LLC now owns 161,000 shares of the company’s stock worth $10,639,000 after acquiring an additional 124,407 shares during the period. Finally, Fred Alger Management LLC purchased a new position in shares of Disc Medicine during the 3rd quarter worth about $907,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Down 2.0%

IRON opened at $91.85 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.45 and a current ratio of 23.45. The company has a market cap of $3.47 billion, a price-to-earnings ratio of -17.17 and a beta of 0.79. Disc Medicine has a one year low of $30.82 and a one year high of $97.11. The business’s fifty day moving average is $80.52 and its two-hundred day moving average is $64.32.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.29). Analysts anticipate that Disc Medicine will post -4.07 EPS 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.