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

Disc Medicine, Inc. (NASDAQ:IRONGet Free Report) has been assigned an average rating of “Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $88.90.

Several brokerages have recently issued reports on IRON. Scotiabank raised their price target on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Wednesday, January 22nd. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus raised their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th.

Get Our Latest Stock Analysis on Disc Medicine

Disc Medicine Stock Performance

Shares of NASDAQ IRON opened at $54.75 on Wednesday. The business’s 50-day simple moving average is $62.49 and its 200-day simple moving average is $54.01. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -13.76 and a beta of 0.75.

Disc Medicine (NASDAQ:IRONGet Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, equities research analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John D. Quisel sold 12,791 shares of the firm’s 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 owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. This trade represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Insiders sold a total of 85,758 shares of company stock worth $5,400,990 over the last quarter. Company insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently bought and sold shares of IRON. Geode Capital Management LLC raised its holdings in shares of Disc Medicine by 17.6% in the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock valued at $23,333,000 after buying an additional 70,983 shares during the last quarter. State Street Corp grew its stake in shares of Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after purchasing an additional 235,115 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Disc Medicine in the third quarter valued at approximately $589,000. Mirae Asset Global Investments Co. Ltd. raised its position in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Disc Medicine by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock worth $7,890,000 after buying an additional 19,401 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

About Disc Medicine

(Get Free Report

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.

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Analyst Recommendations for Disc Medicine (NASDAQ:IRON)

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