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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.57.

A number of equities research analysts have weighed in on IRON shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $50.00) on shares of Disc Medicine in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, May 28th. Stifel Nicolaus boosted their target price on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Morgan Stanley dropped their price target on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd. Finally, Raymond James boosted their price objective on Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th.

Insider Buying and Selling

In related news, Director William Richard White sold 2,560 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.24% of the stock is currently owned by insiders.

Institutional Trading of Disc Medicine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Perceptive Advisors LLC boosted its stake in shares of Disc Medicine by 14.2% in the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after purchasing an additional 127,404 shares during the last quarter. Frazier Life Sciences Management L.P. grew its holdings in Disc Medicine by 19.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after acquiring an additional 130,000 shares during the period. Profund Advisors LLC bought a new position in shares of Disc Medicine in the 3rd quarter worth about $496,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Disc Medicine by 12.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after purchasing an additional 145,781 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Disc Medicine by 18.9% during the 3rd quarter. Vanguard Group Inc. now owns 665,452 shares of the company’s stock valued at $31,263,000 after purchasing an additional 105,685 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Stock Down 3.0 %

Disc Medicine stock opened at $44.86 on Tuesday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a market cap of $1.11 billion, a P/E ratio of -13.27 and a beta of 0.50. The company’s 50-day moving average price is $32.45 and its two-hundred day moving average price is $51.12.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.09). Equities analysts anticipate that Disc Medicine will post -4.67 earnings per share 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.