Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Rating of “Buy” from Analysts

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given an average recommendation of “Buy” by the eleven ratings firms that are currently covering the company, 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 1-year price target among brokerages that have covered the stock in the last year is $98.80.

IRON has been the subject of several research reports. Morgan Stanley restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. Cantor Fitzgerald boosted their price target on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. TD Cowen initiated coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating for the company. Scotiabank boosted their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets boosted their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th.

Insider Buying and Selling

In other Disc Medicine news, insider William Jacob Savage sold 6,677 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $50.04, for a total value of $334,117.08. Following the completion of the transaction, the insider now owns 59,721 shares in the company, valued at $2,988,438.84. This represents a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mona Ashiya sold 5,738 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $54.11, for a total transaction of $310,483.18. Following the completion of the transaction, the director now owns 186,541 shares of the company’s stock, valued at $10,093,733.51. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,510 shares of company stock worth $18,936,535. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its stake 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 acquiring an additional 503 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Disc Medicine in the fourth quarter valued at about $40,000. Amalgamated Bank raised its holdings in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after buying an additional 219 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings 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 buying an additional 266 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Disc Medicine by 13,428.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock valued at $47,000 after buying an additional 940 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Stock Performance

Disc Medicine stock opened at $47.73 on Tuesday. Disc Medicine has a fifty-two week low of $30.82 and a fifty-two week high of $68.73. The firm has a 50 day moving average price of $44.98 and a 200 day moving average price of $53.95. The company has a market capitalization of $1.65 billion, a PE ratio of -11.99 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, equities research analysts forecast that Disc Medicine will post -4.07 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.