Disc Medicine (NASDAQ:IRON) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Disc Medicine (NASDAQ:IRON) announced its quarterly earnings data on Thursday. The company reported ($1.53) earnings per share for the quarter, beating the consensus estimate of ($1.63) by $0.10, FiscalAI reports.

Disc Medicine Trading Up 0.6%

NASDAQ:IRON traded up $0.44 during mid-day trading on Friday, reaching $78.91. 717,525 shares of the company’s stock traded hands, compared to its average volume of 1,606,871. Disc Medicine has a 12-month low of $40.00 and a 12-month high of $99.50. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -12.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The company has a 50 day moving average price of $71.21 and a 200-day moving average price of $70.93.

Analysts Set New Price Targets

IRON has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Thursday, October 15th. BMO Capital Markets raised their price target on Disc Medicine from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Wall Street Zen raised Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on Disc Medicine from $86.00 to $124.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Finally, Cantor Fitzgerald lifted their price target on Disc Medicine from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.40.

Insiders Place Their Bets

In related news, COO Jonathan Yu sold 8,796 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the transaction, the chief operating officer owned 54,324 shares in the company, valued at $4,515,410.88. This represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Bitterman sold 25,519 shares of the firm’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $80.23, for a total value of $2,047,389.37. Following the completion of the sale, the director directly owned 12,991 shares of the company’s stock, valued at $1,042,267.93. The trade was a 66.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 168,046 shares of company stock worth $13,191,034. 3.76% of the stock is currently owned by company insiders.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.