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

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) have received a consensus rating of "Buy" from the ten research firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $87.50.

A number of equities analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Disc Medicine from $79.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Jefferies Financial Group started coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 target price on the stock. Morgan Stanley raised Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price target for the company in a report on Tuesday, November 5th. HC Wainwright reaffirmed a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Monday, December 9th. Finally, Raymond James raised shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $66.00 to $110.00 in a research report on Monday, November 4th.

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 1,957 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Jacob Savage sold 9,158 shares of Disc Medicine stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now directly owns 40,405 shares in the company, valued at $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. Insiders sold a total of 78,258 shares of company stock worth $4,930,365 in the last ninety days. 4.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in IRON. Atlas Venture Life Science Advisors LLC grew its position in shares of Disc Medicine by 9.7% during 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 period. Wellington Management Group LLP grew its holdings in shares of Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company's stock valued at $90,429,000 after buying an additional 83,731 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company's stock worth $79,090,000 after purchasing an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C raised its position in Disc Medicine by 53.8% in 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 buying an additional 357,730 shares during the last quarter. Finally, Logos Global Management LP purchased a new stake in shares of Disc Medicine in the second quarter valued at about $41,690,000. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Price Performance

NASDAQ:IRON traded up $1.37 on Friday, hitting $63.82. 177,927 shares of the company's stock were exchanged, compared to its average volume of 217,814. The company has a market cap of $1.90 billion, a P/E ratio of -16.04 and a beta of 0.75. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The firm has a 50-day moving average price of $61.89 and a 200-day moving average price of $52.25.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts' consensus estimates of ($1.04) by $0.15. On average, research analysts expect that Disc Medicine will post -4.05 earnings per share for the current fiscal 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.