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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have earned an average rating of “Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $87.50.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank raised their target price on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Wedbush restated an “outperform” rating and set a $83.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Finally, 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.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the completion of the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Jacob Savage sold 14,183 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $65.45, for a total transaction of $928,277.35. Following the completion of the transaction, the insider now directly owns 40,405 shares in the company, valued at $2,644,507.25. This trade represents a 25.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,258 shares of company stock worth $4,930,365. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IRON. Amalgamated Bank boosted its stake in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $54,000 after acquiring an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine in the second quarter valued at $129,000. Quest Partners LLC purchased a new stake in Disc Medicine during the third quarter valued at $131,000. Finally, Quantbot Technologies LP bought a new position in Disc Medicine during the third quarter valued at $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

IRON stock opened at $63.82 on Friday. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The stock has a market capitalization of $1.90 billion, a P/E ratio of -16.04 and a beta of 0.75. The business has a fifty day moving average price of $61.89 and a 200-day moving average price of $52.19.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15. As a group, analysts anticipate that Disc Medicine will post -4.05 earnings per share for the current year.

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.