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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $119.00.

Several equities research analysts have recently weighed in on the company. National Bankshares set a $153.00 price objective on Disc Medicine in a research note on Friday, October 17th. Morgan Stanley lifted their price objective on Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research note on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of Disc Medicine from $91.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Truist Financial lifted their price target on shares of Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a report on Monday, November 10th.

Disc Medicine Price Performance

NASDAQ:IRON opened at $80.04 on Friday. The company has a 50-day moving average of $87.93 and a 200-day moving average of $68.73. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -14.96 and a beta of 0.87. Disc Medicine has a 52 week low of $30.82 and a 52 week high of $99.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.45 and a current ratio of 23.45.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). As a group, equities research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Disc Medicine news, Director Kevin Bitterman sold 71,961 shares of Disc Medicine stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $70.58, for a total value of $5,079,007.38. Following the completion of the transaction, the director owned 500,621 shares in the company, valued at approximately $35,333,830.18. The trade was a 12.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John D. Quisel sold 40,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $93.05, for a total value of $3,722,000.00. Following the sale, the chief executive officer owned 171,828 shares in the company, valued at $15,988,595.40. The trade was a 18.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 451,555 shares of company stock valued at $38,742,458 over the last quarter. 3.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP bought a new stake in Disc Medicine during the 3rd quarter worth about $6,752,000. Verition Fund Management LLC acquired a new position in shares of Disc Medicine during the third quarter worth approximately $405,000. Vestal Point Capital LP grew its stake in shares of Disc Medicine by 257.1% during the third quarter. Vestal Point Capital LP now owns 500,000 shares of the company’s stock valued at $33,040,000 after purchasing an additional 360,000 shares during the last quarter. Palo Alto Investors LP increased its holdings in shares of Disc Medicine by 54.0% in the third quarter. Palo Alto Investors LP now owns 224,300 shares of the company’s stock valued at $14,822,000 after purchasing an additional 78,609 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Disc Medicine by 340.0% during the 3rd quarter. Millennium Management LLC now owns 161,000 shares of the company’s stock worth $10,639,000 after buying an additional 124,407 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.