Analysts Set Disc Medicine, Inc. (NASDAQ:IRON) Target Price at $85.80

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has received a consensus recommendation of "Buy" from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $87.50.

IRON has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a "buy" rating and a $89.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $83.00 price target on shares of Disc Medicine in a research note on Monday. Stifel Nicolaus lifted their price objective on Disc Medicine from $79.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They issued an "overweight" rating and a $75.00 price target on the stock. Finally, Raymond James raised shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th.

Disc Medicine Stock Up 4.3 %

IRON traded up $2.81 on Tuesday, reaching $67.47. The company's stock had a trading volume of 285,824 shares, compared to its average volume of 347,905. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The stock has a 50 day moving average of $56.26 and a two-hundred day moving average of $49.06. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.95 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15. As a group, analysts anticipate that Disc Medicine will post -4.05 earnings per share for the current fiscal year.

Insider Activity

In other news, insider William Jacob Savage sold 9,158 shares of Disc Medicine stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the sale, the insider now owns 40,405 shares in the company, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Richard White sold 1,957 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $64.63, for a total transaction of $126,480.91. The disclosure for this sale can be found here. Insiders have sold 32,836 shares of company stock valued at $2,038,816 in the last three months. Corporate insiders own 4.24% of the company's stock.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently modified their holdings of IRON. Atlas Venture Life Science Advisors LLC lifted its position in shares of Disc Medicine by 9.7% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company's stock worth $113,101,000 after buying an additional 222,223 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Disc Medicine by 4.8% in the third 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 during the period. Frazier Life Sciences Management L.P. boosted its holdings in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company's stock valued at $79,090,000 after acquiring an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in shares of Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company's stock valued at $46,119,000 after purchasing an additional 357,730 shares during the period. Finally, Logos Global Management LP acquired a new stake in Disc Medicine in the 2nd quarter valued at about $41,690,000. 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.