Disc Medicine (NASDAQ:IRON) Sets New 12-Month High – Time to Buy?

Disc Medicine, Inc. (NASDAQ:IRON)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $49.77 and last traded at $49.42, with a volume of 437945 shares trading hands. The stock had previously closed at $47.15.

Analysts Set New Price Targets

Several analysts have issued reports on IRON shares. Scotiabank boosted their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Morgan Stanley restated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Friday, March 7th. Cantor Fitzgerald raised their price objective 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. Wedbush reissued an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, TD Cowen initiated coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a “buy” rating for the company. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $93.80.

Disc Medicine Price Performance

The stock’s fifty day moving average is $48.14 and its 200-day moving average is $55.03. The stock has a market capitalization of $1.71 billion, a P/E ratio of -12.42 and a beta of 0.77.

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

Insider Buying and Selling

In other news, Director Mona Ashiya sold 202,146 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $54.29, for a total value of $10,974,506.34. Following the sale, the director now directly owns 208,742 shares of the company’s stock, valued at approximately $11,332,603.18. This trade represents a 49.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jean M. Franchi sold 3,136 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,162.88. Following the transaction, the chief financial officer now directly owns 69,530 shares of the company’s stock, valued at $3,794,947.40. This represents a 4.32 % 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. Company insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its holdings in Disc Medicine by 123.7% in the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after acquiring an additional 22,202 shares in the last quarter. Exome Asset Management LLC raised its stake in shares of Disc Medicine by 5.8% in the third quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock valued at $3,170,000 after purchasing an additional 3,516 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Disc Medicine by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock worth $799,000 after purchasing an additional 2,257 shares during the period. SG Americas Securities LLC boosted its stake in Disc Medicine by 66.0% during the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock worth $512,000 after buying an additional 3,212 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Disc Medicine by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after buying an additional 593 shares during the period. 83.70% of the stock is owned by institutional investors.

Disc Medicine Company Profile

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.