Disc Medicine (NASDAQ:IRON) Announces Quarterly Earnings Results

Disc Medicine (NASDAQ:IRON - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.89) EPS for the quarter, beating analysts' consensus estimates of ($1.04) by $0.15, Briefing.com reports.

Disc Medicine Price Performance

Disc Medicine stock traded down $0.20 during midday trading on Wednesday, reaching $63.06. The stock had a trading volume of 307,624 shares, compared to its average volume of 356,351. The firm's fifty day simple moving average is $50.53 and its two-hundred day simple moving average is $44.51. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -15.61 and a beta of 0.60. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Insider Activity

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 7,538 shares of company stock worth $437,875 over the last quarter. Corporate insiders own 4.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company began coverage on Disc Medicine in a research note on Thursday, August 22nd. They set an "overweight" rating and a $75.00 price target for the company. Morgan Stanley upgraded shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Raymond James raised shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $66.00 to $110.00 in a report on Monday, November 4th. Wedbush reaffirmed an "outperform" rating and issued a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a research note on Tuesday. Finally, Scotiabank increased their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a "sector outperform" rating in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Disc Medicine has an average rating of "Buy" and a consensus price target of $85.80.

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.