Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) PT at $104.80

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $104.80.

Several equities analysts recently commented on the company. Wedbush dropped their target price on Disc Medicine from $110.00 to $88.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. BMO Capital Markets decreased their price target on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Raymond James Financial restated a “market perform” rating on shares of Disc Medicine in a report on Thursday, January 15th. Wells Fargo & Company upped their price objective on shares of Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley set a $75.00 price objective on shares of Disc Medicine in a report on Tuesday, February 17th.

Disc Medicine Stock Up 1.3%

Shares of NASDAQ IRON opened at $64.78 on Monday. The firm has a market cap of $2.47 billion, a P/E ratio of -10.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 21.94 and a current ratio of 21.94. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $99.50. The firm’s 50 day moving average price is $67.16 and its 200 day moving average price is $75.77.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, beating the consensus estimate of ($1.69) by $0.07. The business had revenue of ($19.88) million during the quarter, compared to analyst estimates of $0.15 million. As a group, sell-side analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Activity

In other news, insider Pamela Stephenson sold 5,531 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total transaction of $347,678.66. Following the completion of the sale, the insider directly owned 80,998 shares in the company, valued at $5,091,534.28. This represents a 6.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John D. Quisel sold 13,264 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total value of $833,775.04. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares in the company, valued at $14,210,383.04. This trade represents a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,522 shares of company stock valued at $3,579,979 in the last ninety days. 3.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Disc Medicine by 3,329.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 357,836 shares of the company’s stock worth $28,416,000 after purchasing an additional 347,403 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Disc Medicine during the 3rd quarter worth about $12,038,000. Y Intercept Hong Kong Ltd increased its position in Disc Medicine by 361.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 43,287 shares of the company’s stock worth $2,860,000 after purchasing an additional 33,905 shares in the last quarter. Atle Fund Management AB increased its position in Disc Medicine by 85.3% during the 3rd quarter. Atle Fund Management AB now owns 45,690 shares of the company’s stock worth $3,019,000 after purchasing an additional 21,038 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Disc Medicine by 11.1% in the second quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company’s stock valued at $44,678,000 after buying an additional 84,278 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.