Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $119.45

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $119.4545.

Several research analysts have issued reports on IRON shares. Wedbush reiterated an “outperform” rating on shares of Disc Medicine in a report on Thursday. Wells Fargo & Company upped their price target on shares of Disc Medicine from $91.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Cantor Fitzgerald lifted their price objective on shares of Disc Medicine from $132.00 to $153.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Truist Financial boosted their price objective on shares of Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Cowen reaffirmed a “buy” rating on shares of Disc Medicine in a research report on Friday, December 19th.

Disc Medicine Trading Down 0.2%

IRON opened at $70.93 on Wednesday. The stock’s fifty day moving average is $85.55 and its two-hundred day moving average is $72.70. The company has a market capitalization of $2.68 billion, a P/E ratio of -13.26 and a beta of 0.87. Disc Medicine has a 52 week low of $30.82 and a 52 week high of $99.50. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05.

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

Insider Activity at Disc Medicine

In other Disc Medicine news, insider Rahul Khara sold 6,500 shares of Disc Medicine stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $78.69, for a total value of $511,485.00. Following the transaction, the insider owned 37,793 shares in the company, valued at $2,973,931.17. The trade was a 14.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jacob Savage sold 13,093 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $91.22, for a total transaction of $1,194,343.46. Following the completion of the sale, the insider owned 75,702 shares in the company, valued at $6,905,536.44. This represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 274,470 shares of company stock valued at $24,896,430 over the last 90 days. Company insiders own 3.64% of the company’s stock.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently made changes to their positions in IRON. Aster Capital Management DIFC Ltd purchased a new position in Disc Medicine during the 3rd quarter worth $38,000. CWM LLC boosted its holdings in Disc Medicine by 213.5% in the second quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $55,000 after acquiring an additional 711 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Disc Medicine during the second quarter worth about $57,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Disc Medicine by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock worth $71,000 after acquiring an additional 181 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Disc Medicine by 8.9% during the second quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company’s stock valued at $133,000 after acquiring an additional 206 shares in the last quarter. 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.