Disc Medicine (NASDAQ:IRON) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Disc Medicine (NASDAQ:IRON) released its quarterly earnings results on Thursday. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08, Zacks reports.

Disc Medicine Stock Performance

NASDAQ IRON traded up $0.30 on Thursday, reaching $54.76. 110,576 shares of the stock traded hands, compared to its average volume of 395,404. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -13.77 and a beta of 0.73. The company has a fifty day moving average price of $58.42 and a 200-day moving average price of $55.44. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Scotiabank boosted their target price on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Tuesday, November 5th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and a consensus target price of $88.90.

Insider Activity

In related news, Director William Richard White sold 1,957 shares of Disc Medicine stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rahul Khara sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the transaction, the insider now owns 14,035 shares in the company, valued at approximately $880,696.25. This trade represents a 34.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,037 shares of company stock worth $4,650,001. 4.24% of the stock is currently owned by company insiders.

About Disc Medicine

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.