Disc Medicine (NASDAQ:IRON) Releases Earnings Results, Beats Expectations By $0.08 EPS

Disc Medicine (NASDAQ:IRON) posted its quarterly earnings data on Thursday. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08, Zacks reports.

Disc Medicine Stock Performance

NASDAQ:IRON traded up $0.98 during trading on Friday, reaching $55.48. The company’s stock had a trading volume of 39,843 shares, compared to its average volume of 391,745. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -13.91 and a beta of 0.73. The firm has a 50 day moving average of $58.25 and a 200-day moving average of $55.44. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60.

Insider Activity at Disc Medicine

In other news, CEO John D. Quisel sold 12,791 shares of the 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 completion of the transaction, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela Stephenson sold 3,137 shares of Disc Medicine stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the completion of the transaction, the insider now owns 69,529 shares of the company’s stock, valued at $3,794,892.82. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,037 shares of company stock worth $4,650,001. 4.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Scotiabank increased their price target on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Wednesday, January 22nd. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Tuesday, November 5th. Stifel Nicolaus increased their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, TD Cowen began coverage on Disc Medicine in a research note on Thursday. They set a “buy” rating for the company. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Disc Medicine has an average rating of “Buy” and a consensus target price of $88.90.

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.