Disc Medicine, Inc. (NASDAQ:IRON) Given Consensus Rating of "Buy" by Brokerages

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eleven research firms that are covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $93.80.

IRON has been the topic of several recent analyst reports. Cantor Fitzgerald raised their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Wedbush restated an "outperform" rating and set a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Stifel Nicolaus boosted their target price on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Morgan Stanley restated an "overweight" rating and set a $85.00 price target on shares of Disc Medicine in a report on Friday, March 7th. Finally, Scotiabank upped their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd.

Disc Medicine Stock Up 2.6 %

IRON traded up $1.04 during trading on Monday, hitting $41.31. The company's stock had a trading volume of 424,425 shares, compared to its average volume of 346,380. Disc Medicine has a one year low of $25.64 and a one year high of $68.73. The business's 50 day simple moving average is $50.27 and its 200-day simple moving average is $55.41. The firm has a market cap of $1.43 billion, a PE ratio of -10.38 and a beta of 0.77.

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Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping analysts' consensus estimates of ($1.06) by $0.08. Equities research analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.54, for a total value of $416,550.00. Following the completion of the transaction, the insider now owns 14,035 shares of the company's stock, valued at approximately $779,503.90. The trade was a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jean M. Franchi sold 3,136 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,162.88. Following the completion of the transaction, the chief financial officer now directly owns 69,530 shares of the company's stock, valued at $3,794,947.40. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 361,690 shares of company stock valued at $19,648,094. 4.24% of the stock is owned by company insiders.

Institutional Trading of Disc Medicine

Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in Disc Medicine by 358.7% in the 4th quarter. FMR LLC now owns 1,866,248 shares of the company's stock valued at $118,320,000 after buying an additional 1,459,434 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in 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 valued at $88,421,000 after purchasing an additional 262,690 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Disc Medicine by 62.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock worth $77,170,000 after purchasing an additional 467,988 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Disc Medicine by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company's stock valued at $67,727,000 after buying an additional 18,716 shares in the last quarter. Finally, State Street Corp lifted its stake in Disc Medicine by 39.7% during the 3rd quarter. State Street Corp now owns 827,910 shares of the company's stock worth $40,683,000 after acquiring an additional 235,115 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

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.