Disc Medicine (NASDAQ:IRON) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Disc Medicine (NASDAQ:IRON) posted its earnings results on Thursday. The company reported ($1.53) EPS for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.10, FiscalAI reports.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded up $0.44 during mid-day trading on Friday, reaching $78.91. The company’s stock had a trading volume of 717,525 shares, compared to its average volume of 1,606,871. The firm has a market capitalization of $3.03 billion, a PE ratio of -12.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The stock has a fifty day moving average of $71.21 and a two-hundred day moving average of $70.93. Disc Medicine has a 52 week low of $40.00 and a 52 week high of $99.50.

Insider Buying and Selling at Disc Medicine

In other news, Director Kevin Bitterman sold 25,519 shares of the business’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $80.23, for a total value of $2,047,389.37. Following the transaction, the director owned 12,991 shares of the company’s stock, valued at approximately $1,042,267.93. The trade was a 66.27% decrease in their ownership of the stock. The transaction was disclosed in a 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 business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the transaction, the chief operating officer directly owned 54,324 shares in the company, valued at $4,515,410.88. This trade represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 168,046 shares of company stock valued at $13,191,034 in the last three months. 3.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRON has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a report on Thursday, October 15th. Wells Fargo & Company raised their price target on Disc Medicine from $86.00 to $124.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. BMO Capital Markets lifted their price objective on Disc Medicine from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. Jefferies Financial Group reiterated a “buy” rating and set a $149.00 price objective on shares of Disc Medicine in a research report on Wednesday, October 21st. Finally, Cantor Fitzgerald increased their target price on Disc Medicine from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.40.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.