Disc Medicine, Inc. (NASDAQ:IRON) Receives $85.80 Average Price Target from Analysts

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have earned a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $85.80.

A number of research analysts have issued reports on IRON shares. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price on the stock. HC Wainwright raised their price objective on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Wedbush restated an “outperform” rating and issued a $83.00 price target (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Finally, Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $63.51 on Friday. The firm has a 50 day simple moving average of $52.10 and a 200 day simple moving average of $45.85. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm has a market cap of $1.89 billion, a P/E ratio of -15.96 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, sell-side analysts expect that Disc Medicine will post -4.05 EPS for the current year.

Insider Buying and Selling

In other news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the transaction, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,696 shares of company stock valued at $984,058. 4.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank increased its position in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Disc Medicine by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after purchasing an additional 771 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Disc Medicine by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after buying an additional 793 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Disc Medicine by 23.0% in the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after buying an additional 856 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

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.