Disc Medicine (NASDAQ:IRON) Issues Quarterly Earnings Results

Disc Medicine (NASDAQ:IRON) announced its quarterly earnings results on Tuesday. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15, Briefing.com reports.

Disc Medicine Stock Performance

Shares of Disc Medicine stock traded down $3.31 during trading hours on Wednesday, hitting $63.26. The company’s stock had a trading volume of 334,854 shares, compared to its average volume of 448,226. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The business has a 50 day moving average price of $50.53 and a two-hundred day moving average price of $44.51. The company has a market cap of $1.88 billion, a PE ratio of -17.24 and a beta of 0.60.

Insider Activity at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 7,538 shares of company stock valued at $437,875. 4.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRON. Wells Fargo & Company started coverage on Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday. Jefferies Financial Group initiated coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Scotiabank boosted their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $81.00.

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.