Disc Medicine, Inc. (NASDAQ:IRON) Receives $88.90 Consensus PT from Analysts

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) have been assigned a consensus recommendation of "Buy" from the ten brokerages that are currently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $88.90.

A number of research firms recently issued reports on IRON. HC Wainwright reaffirmed a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Tuesday, January 21st. Jefferies Financial Group started coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price objective on the stock. Wedbush reissued an "outperform" rating and issued a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank boosted their target price on shares of Disc Medicine from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12. Following the transaction, the insider now owns 40,405 shares in the company, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,557 shares of company stock worth $5,391,669 in the last ninety days. 4.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Disc Medicine by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company's stock worth $23,333,000 after purchasing an additional 70,983 shares in the last quarter. State Street Corp grew its stake in Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company's stock worth $40,683,000 after buying an additional 235,115 shares in the last quarter. Verition Fund Management LLC bought a new position in Disc Medicine in the 3rd quarter valued at about $589,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company's stock valued at $54,000 after buying an additional 337 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Disc Medicine by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company's stock valued at $7,890,000 after buying an additional 19,401 shares in the last quarter. Institutional investors own 83.70% of the company's stock.

Disc Medicine Price Performance

NASDAQ:IRON traded up $0.20 during trading hours on Wednesday, reaching $55.80. 355,671 shares of the stock were exchanged, compared to its average volume of 440,531. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a market cap of $1.66 billion, a PE ratio of -14.02 and a beta of 0.75. The firm has a 50 day moving average of $62.02 and a 200 day moving average of $54.12.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts' consensus estimates of ($1.04) by $0.15. Equities research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current 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.