Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Recommendation of “Buy” from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has been given a consensus recommendation of “Buy” by the ten research firms that are currently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $88.90.

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Scotiabank lifted their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st.

Insider Transactions at Disc Medicine

In related news, CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $87,873.80. Following the transaction, the chief operating officer now directly owns 40,555 shares in the company, valued at $2,213,491.90. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,220 shares of company stock valued at $5,578,278 over the last ninety days. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Disc Medicine by 96.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock valued at $281,000 after buying an additional 2,813 shares during the period. Quest Partners LLC bought a new stake in Disc Medicine in the 3rd quarter valued at $131,000. Intech Investment Management LLC bought a new stake in Disc Medicine in the 3rd quarter valued at $228,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Disc Medicine by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after buying an additional 19,401 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Trading Up 0.3 %

IRON stock opened at $54.52 on Friday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -13.70 and a beta of 0.73. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The firm has a 50-day moving average of $59.05 and a two-hundred day moving average of $55.19.

About Disc Medicine

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.