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

Key Points

• Analysts maintain a Moderate Buy consensus: Eleven of 13 analysts rate Disc Medicine a buy, with an average 12-month price target of $110.18 versus the stock’s recent $69.53 opening price.
• Disc Medicine reported a quarterly loss of $1.54 per share, beating the consensus estimate of a $1.71 loss; analysts expect a full-year loss of approximately $6.61 per share.
• Institutional ownership is high at 83.70%, although company insiders sold 167,121 shares worth about $12.93 million over the past three months.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $110.1818.

A number of analysts recently commented on IRON shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $128.00 price objective on shares of Disc Medicine in a research note on Thursday, September 10th. Wells Fargo & Company boosted their target price on shares of Disc Medicine from $79.00 to $86.00 and gave the company an "overweight" rating in a research note on Wednesday. HC Wainwright restated a "buy" rating and issued a $120.00 target price on shares of Disc Medicine in a report on Thursday, September 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research note on Friday, July 17th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Disc Medicine in a research note on Thursday, September 10th.

Disc Medicine Stock Performance

Shares of IRON opened at $69.53 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The firm has a 50 day simple moving average of $76.82 and a 200-day simple moving average of $70.96. Disc Medicine has a 1-year low of $40.00 and a 1-year high of $99.50. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -10.57 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.71) by $0.17. Equities analysts forecast that Disc Medicine will post -6.61 EPS for the current fiscal year.

Insider Activity

In other Disc Medicine news, CEO John D. Quisel sold 33,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $79.15, for a total transaction of $2,611,950.00. Following the transaction, the chief executive officer owned 226,064 shares of the company's stock, valued at $17,892,965.60. This represents a 12.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kevin Bitterman sold 27,136 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96. Following the transaction, the director directly owned 7,136 shares in the company, valued at approximately $500,304.96. This represents a 79.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 167,121 shares of company stock worth $12,930,940 in the last three months. 3.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently added to or reduced their stakes in IRON. Opaleye Management Inc. lifted its holdings in shares of Disc Medicine by 103.1% during the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock worth $62,535,000 after acquiring an additional 434,000 shares during the period. Engineers Gate Manager LP lifted its stake in shares of Disc Medicine by 110.9% during the second quarter. Engineers Gate Manager LP now owns 19,552 shares of the company's stock worth $1,430,000 after purchasing an additional 10,282 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Disc Medicine by 139.3% in the 2nd quarter. Squarepoint Ops LLC now owns 75,872 shares of the company's stock worth $5,549,000 after acquiring an additional 44,163 shares during the period. Arizona State Retirement System grew its holdings in Disc Medicine by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 6,844 shares of the company's stock valued at $501,000 after purchasing an additional 160 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Disc Medicine in the second quarter worth about $103,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.

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