Disc Medicine, Inc. (NASDAQ:IRON) Receives $93.80 Consensus Price Target from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has been given an average rating of “Buy” by the eleven analysts that are presently covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $98.80.

Several research analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Cantor Fitzgerald boosted their price target on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Scotiabank boosted their price target on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. TD Cowen assumed coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating on the stock. Finally, BMO Capital Markets boosted their price target on Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a report on Monday.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 5,574 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $304,228.92. Following the sale, the chief executive officer now directly owns 154,828 shares of the company’s stock, valued at approximately $8,450,512.24. The trade was a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mona Ashiya sold 202,146 shares of Disc Medicine stock in a transaction that occurred on Monday, March 10th. The shares were 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 in the company, valued at approximately $11,332,603.18. The trade was a 49.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,290 shares of company stock valued at $19,336,901. 4.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Disc Medicine

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Disc Medicine by 67.9% during the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock valued at $116,331,000 after acquiring an additional 948,094 shares in the last quarter. FMR LLC boosted its position in shares of Disc Medicine by 358.7% in the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after purchasing an additional 1,459,434 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of Disc Medicine in the 1st quarter worth approximately $78,288,000. Price T Rowe Associates Inc. MD boosted its position in shares of Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after purchasing an additional 262,690 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Disc Medicine by 22.2% in the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company’s stock worth $64,782,000 after purchasing an additional 236,800 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

Disc Medicine Trading Up 3.0%

IRON opened at $47.09 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of -11.83 and a beta of 0.77. The business’s 50-day moving average price is $46.21 and its 200-day moving average price is $54.87. Disc Medicine has a 12 month low of $30.65 and a 12 month high of $68.73.

Disc Medicine (NASDAQ:IRON) last released 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). Equities research analysts forecast 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.