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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received a consensus recommendation of “Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $85.80.

A number of equities research analysts have weighed in on the company. Scotiabank raised their price target on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a report on Tuesday, November 5th.

Insider Activity at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 7,538 shares of company stock worth $437,875 in the last 90 days. Company insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Hedge funds have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. lifted its position in Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after acquiring an additional 969,834 shares in the last quarter. Logos Global Management LP bought a new position in Disc Medicine in the 2nd quarter worth $41,690,000. Point72 Asset Management L.P. bought a new position in shares of Disc Medicine during the 2nd quarter valued at about $34,318,000. Deerfield Management Company L.P. Series C boosted its holdings in shares of Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares during the last quarter. 83.70% of the stock is owned by institutional investors.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $60.67 on Friday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -15.24 and a beta of 0.60. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The stock has a fifty day moving average of $51.02 and a 200 day moving average of $44.75.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Equities analysts forecast that Disc Medicine will post -4.15 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.