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

Shares of Disc Medicine, Inc. (NASDAQ:IRONGet Free Report) have received a consensus rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $74.14.

Several analysts recently commented on IRON shares. Morgan Stanley lowered Disc Medicine from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $56.00 to $65.00 in a report on Tuesday, December 19th. BMO Capital Markets boosted their price objective on Disc Medicine from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Wednesday, December 20th. Finally, Wedbush reissued an “outperform” rating and issued a $79.00 price target on shares of Disc Medicine in a research note on Tuesday, January 2nd.

Read Our Latest Stock Report on IRON

Disc Medicine Stock Up 4.2 %

Disc Medicine stock opened at $65.29 on Friday. Disc Medicine has a 52 week low of $18.25 and a 52 week high of $77.60. The business’s 50-day moving average price is $65.17 and its 200 day moving average price is $56.32.

Insider Buying and Selling

In other Disc Medicine news, Director Kevin Bitterman sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $64.00, for a total value of $1,280,000.00. Following the transaction, the director now owns 786,160 shares in the company, valued at approximately $50,314,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Disc Medicine news, Director Kevin Bitterman sold 20,000 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the completion of the sale, the director now owns 786,160 shares in the company, valued at approximately $50,314,240. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Orbimed Advisors Llc sold 27,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $60.16, for a total transaction of $1,642,368.00. Following the completion of the transaction, the director now directly owns 295,605 shares in the company, valued at $17,783,596.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 338,000 shares of company stock worth $21,795,348. 4.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new position in Disc Medicine in the third quarter worth approximately $28,000. Steward Partners Investment Advisory LLC grew its position in Disc Medicine by 50.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Disc Medicine in the second quarter worth approximately $28,000. AJOVista LLC purchased a new position in Disc Medicine in the fourth quarter worth approximately $63,000. Finally, Tower Research Capital LLC TRC grew its position in Disc Medicine by 666.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the company’s stock worth $135,000 after acquiring an additional 2,034 shares during the period.

Disc Medicine Company Profile

(Get Free Report

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.

See Also

Analyst Recommendations for Disc Medicine (NASDAQ:IRON)

Receive News & Ratings for Disc Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Disc Medicine and related companies with MarketBeat.com's FREE daily email newsletter.