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

Disc Medicine, Inc. (NASDAQ:IRON) has earned an average rating of “Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $88.90.

A number of research analysts have recently commented on the company. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Tuesday, November 5th. Jefferies Financial Group started coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Wedbush reaffirmed 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. Finally, Stifel Nicolaus boosted their price objective on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, January 24th.

Disc Medicine Stock Down 2.2 %

Disc Medicine stock opened at $54.75 on Wednesday. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -13.76 and a beta of 0.75. The firm has a 50-day moving average price of $62.49 and a two-hundred day moving average price of $54.01.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. Research analysts expect that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 14,183 shares of Disc Medicine stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $65.45, for a total transaction of $928,277.35. Following the transaction, the insider now owns 40,405 shares of the company’s stock, valued at $2,644,507.25. The trade was a 25.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John D. Quisel sold 19,820 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $63.14, for a total value of $1,251,434.80. Following the completion of the transaction, the chief executive officer now owns 72,065 shares in the company, valued at $4,550,184.10. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRON. Amalgamated Bank grew its holdings in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after buying an additional 593 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after buying an additional 771 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after acquiring an additional 793 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.