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

Disc Medicine, Inc. (NASDAQ:IRON) has earned an average rating of “Buy” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Eleven 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 objective among brokers that have issued ratings on the stock in the last year is $95.73.

Several equities analysts recently commented on IRON shares. BMO Capital Markets increased their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Morgan Stanley initiated coverage on shares of Disc Medicine in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $85.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Thursday, July 3rd. Truist Financial initiated coverage on shares of Disc Medicine in a research note on Monday, July 21st. They set a “buy” rating and a $86.00 price target for the company. Finally, Raymond James Financial initiated coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price target for the company.

Insider Activity

In related news, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the completion of the transaction, the chief financial officer owned 63,499 shares of the company’s stock, valued at $3,746,441. This trade represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John D. Quisel sold 34,800 shares of Disc Medicine stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the transaction, the chief executive officer directly owned 161,828 shares of the company’s stock, valued at $8,953,943.24. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,338 shares of company stock worth $5,797,556 over the last ninety days. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently bought and sold shares of the company. TD Asset Management Inc grew its holdings in Disc Medicine by 25.0% in the second quarter. TD Asset Management Inc now owns 53,048 shares of the company’s stock worth $2,809,000 after purchasing an additional 10,600 shares during the period. CWM LLC increased its stake in Disc Medicine by 213.5% in the second quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $55,000 after purchasing an additional 711 shares in the last quarter. Aberdeen Group plc bought a new stake in Disc Medicine in the second quarter valued at $1,698,000. KLP Kapitalforvaltning AS increased its stake in Disc Medicine by 24.3% in the second quarter. KLP Kapitalforvaltning AS now owns 4,600 shares of the company’s stock valued at $244,000 after purchasing an additional 900 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock valued at $71,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $59.80 on Wednesday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -15.26 and a beta of 0.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.65 and a quick ratio of 37.65. The firm has a 50 day simple moving average of $53.08 and a 200 day simple moving average of $51.40. Disc Medicine has a one year low of $30.82 and a one year high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Research analysts predict that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

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.