Disc Medicine, Inc. (NASDAQ:IRON) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $57.29.

IRON has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Raymond James reiterated an “outperform” rating and set a $40.00 price target (down previously from $75.00) on shares of Disc Medicine in a research note on Monday, April 1st. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Monday, April 1st. BMO Capital Markets decreased their target price on Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $43.00 price target (down previously from $84.00) on shares of Disc Medicine in a report on Monday, April 1st.

Insider Buying and Selling

In related news, Director William Richard White sold 2,560 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently bought and sold shares of IRON. Bank of New York Mellon Corp grew its position in Disc Medicine by 22.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,550 shares of the company’s stock worth $1,435,000 after purchasing an additional 5,567 shares during the last quarter. Strs Ohio acquired a new position in shares of Disc Medicine during the third quarter valued at about $28,000. TD Asset Management Inc lifted its stake in shares of Disc Medicine by 260.5% in the third quarter. TD Asset Management Inc now owns 20,214 shares of the company’s stock valued at $950,000 after buying an additional 14,607 shares during the period. Victory Capital Management Inc. acquired a new stake in Disc Medicine during the third quarter worth about $6,461,000. Finally, Barclays PLC grew its position in Disc Medicine by 1,932.3% during the third quarter. Barclays PLC now owns 31,561 shares of the company’s stock worth $1,483,000 after buying an additional 30,008 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Price Performance

IRON opened at $27.55 on Monday. The company has a market capitalization of $665.06 million, a PE ratio of -7.89 and a beta of 0.18. The business has a 50-day moving average of $50.99 and a 200-day moving average of $54.72. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, equities research analysts expect that Disc Medicine will post -4.44 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.