Analysts Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $110.18

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $110.1818.

A number of research firms recently commented on IRON. Jefferies Financial Group reiterated a “buy” rating and set a $128.00 price objective on shares of Disc Medicine in a research note on Thursday, September 10th. Morgan Stanley restated an “overweight” rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, August 17th. Wells Fargo & Company increased their price target on Disc Medicine from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Wall Street Zen raised Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Disc Medicine in a research report on Thursday, September 10th.

Disc Medicine Stock Performance

Disc Medicine stock opened at $66.09 on Monday. The firm has a market capitalization of $2.54 billion, a PE ratio of -10.04 and a beta of 0.97. Disc Medicine has a one year low of $40.00 and a one year high of $99.50. The stock’s 50 day moving average price is $76.34 and its 200 day moving average price is $71.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.71) by $0.17. As a group, sell-side analysts expect that Disc Medicine will post -6.61 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 49,164 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the sale, the director directly owned 13,499 shares in the company, valued at approximately $1,082,214.83. The trade was a 78.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Yu sold 8,796 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total transaction of $731,123.52. Following the transaction, the chief operating officer owned 54,324 shares of the company’s stock, valued at approximately $4,515,410.88. This trade represents a 13.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 167,121 shares of company stock worth $12,930,940. Corporate insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds have recently made changes to their positions in IRON. BlackRock Inc. acquired a new position in shares of Disc Medicine in the 2nd quarter valued at about $180,502,000. BVF Inc. IL acquired a new stake in shares of Disc Medicine during the fourth quarter worth approximately $51,616,000. Perceptive Advisors LLC acquired a new stake in shares of Disc Medicine during the fourth quarter worth approximately $35,794,000. Opaleye Management Inc. grew its position in Disc Medicine by 103.1% during the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock valued at $62,535,000 after purchasing an additional 434,000 shares in the last quarter. Finally, Palo Alto Investors LP purchased a new position in Disc Medicine during the second quarter valued at approximately $30,473,488. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.