Disc Medicine, Inc. (NASDAQ:IRON) Receives $88.90 Average PT from Analysts

Disc Medicine, Inc. (NASDAQ:IRON) has received a consensus rating of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $88.90.

Several research firms have commented on IRON. TD Cowen initiated coverage on Disc Medicine in a report on Thursday. They issued a “buy” rating for the company. Wedbush reiterated an “outperform” rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank raised their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Wednesday, January 22nd. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Stifel Nicolaus lifted their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th.

Insider Transactions at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Richard White sold 1,957 shares of Disc Medicine stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,037 shares of company stock worth $4,650,001. Insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRON. FMR LLC grew its position in shares of Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after buying an additional 1,459,434 shares during the period. Janus Henderson Group PLC raised its position in shares of Disc Medicine by 62.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after acquiring an additional 467,988 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock valued at $88,421,000 after purchasing an additional 262,690 shares during the period. State Street Corp boosted its position in shares of Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Disc Medicine in the fourth quarter valued at about $5,579,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Stock Up 0.1 %

IRON opened at $54.50 on Friday. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The firm has a market capitalization of $1.62 billion, a P/E ratio of -13.69 and a beta of 0.73. The stock’s 50 day moving average price is $58.25 and its two-hundred day moving average price is $55.44.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. As a group, analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current 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.