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

Disc Medicine, Inc. (NASDAQ:IRON) has been assigned an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. Ten 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 a report on the stock in the last year is $93.80.

Several equities analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Cantor Fitzgerald raised their price target on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank increased their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Finally, TD Cowen began coverage on Disc Medicine in a research report on Thursday, February 27th. They set a “buy” rating for the company.

Disc Medicine Stock Performance

NASDAQ IRON opened at $38.73 on Monday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -9.73 and a beta of 0.77. Disc Medicine has a 52 week low of $25.64 and a 52 week high of $68.73. The stock has a fifty day moving average of $50.88 and a 200-day moving average of $55.57.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. Equities research analysts forecast that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Pamela Stephenson sold 3,137 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,217.46. Following the sale, the insider now owns 69,529 shares of the company’s stock, valued at approximately $3,794,892.82. This trade represents a 4.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 5,738 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $54.11, for a total value of $310,483.18. Following the completion of the sale, the director now owns 186,541 shares in the company, valued at $10,093,733.51. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 361,690 shares of company stock valued at $19,648,094. 4.24% of the stock is owned by corporate insiders.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC grew its position in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after purchasing an additional 503 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Disc Medicine in the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC increased its position in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Disc Medicine during the fourth quarter worth about $235,000. Finally, Fiduciary Trust Co bought a new stake in Disc Medicine during the fourth quarter worth about $257,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.