Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Rating of "Buy" from Analysts

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

Several analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Cantor Fitzgerald increased their target price 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. Morgan Stanley restated an "overweight" rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Scotiabank upped their price target on Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Finally, HC Wainwright reissued a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st.

Insider Buying and Selling

In other Disc Medicine news, Director Mona Ashiya sold 10,011 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $54.00, for a total transaction of $540,594.00. Following the completion of the transaction, the director now directly owns 187,297 shares of the company's stock, valued at approximately $10,114,038. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pamela Stephenson sold 3,137 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,217.46. Following the sale, the insider now owns 69,529 shares of the company's stock, valued at approximately $3,794,892.82. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 396,284 shares of company stock worth $21,865,764 in the last 90 days. Insiders own 4.24% of the company's stock.

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Hedge Funds Weigh In On Disc Medicine

A number of institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Disc Medicine by 358.7% during the fourth quarter. FMR LLC now owns 1,866,248 shares of the company's stock worth $118,320,000 after acquiring an additional 1,459,434 shares during the period. Wellington Management Group LLP boosted its position in Disc Medicine by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company's stock worth $90,429,000 after purchasing an additional 83,731 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Disc Medicine by 23.2% during 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 during the period. Janus Henderson Group PLC grew its stake in shares of Disc Medicine by 62.4% during the 4th 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 during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Disc Medicine by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company's stock valued at $67,727,000 after purchasing an additional 18,716 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Stock Performance

NASDAQ:IRON traded down $0.99 during trading hours on Thursday, reaching $52.24. The company's stock had a trading volume of 1,082,703 shares, compared to its average volume of 360,307. The stock has a 50 day moving average price of $55.26 and a two-hundred day moving average price of $56.06. The company has a market capitalization of $1.81 billion, a P/E ratio of -13.13 and a beta of 0.73. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.06) by $0.08. As a group, analysts predict that Disc Medicine will post -4.07 EPS for the current fiscal year.

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.