Disc Medicine, Inc. (NASDAQ:IRON) Stock Has Average Target Price of $110.18

Key Points

• Analysts remain broadly positive: Thirteen brokerages give Disc Medicine a consensus “Moderate Buy” rating, with 11 buys, one hold and one sell. The average 12-month price target is $110.18, well above the reported $56.65 share price.
• Institutional ownership is substantial: Institutional investors and hedge funds own 83.7% of the company, with several firms—including Assenagon Asset Management and Opaleye Management—recently increasing their positions.
• Insiders have been selling shares: Company insiders sold 131,221 shares worth approximately $10.24 million over the past three months, while insider ownership stands at 3.76%. Disc Medicine is a clinical-stage biotech developing bitopertin and other treatments for serious hematologic diseases.

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $110.18.

A number of equities research analysts have issued reports on IRON shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Disc Medicine in a research report on Tuesday, September 1st. Wedbush reiterated an "outperform" rating and set a $100.00 price target on shares of Disc Medicine in a report on Thursday, September 10th. Wall Street Zen upgraded Disc Medicine from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Disc Medicine in a research note on Friday, July 17th. Finally, Morgan Stanley restated an "overweight" rating and issued a $90.00 price objective on shares of Disc Medicine in a report on Monday, August 17th.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, COO Jonathan Yu sold 8,796 shares of Disc Medicine stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total value of $731,123.52. Following the completion of the sale, the chief operating officer directly owned 54,324 shares in the company, valued at $4,515,410.88. The trade was a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rahul Khara sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the insider directly owned 52,324 shares of the company's stock, valued at $4,185,920. This represents a 8.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 131,221 shares of company stock valued at $10,239,760 over the last three months. 3.76% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its holdings in Disc Medicine by 191.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company's stock worth $73,280,000 after purchasing an additional 735,300 shares during the last quarter. Opaleye Management Inc. grew its holdings in Disc Medicine by 103.1% during the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock valued at $62,535,000 after purchasing an additional 434,000 shares during the last quarter. Engineers Gate Manager LP grew its holdings in Disc Medicine by 110.9% during the second quarter. Engineers Gate Manager LP now owns 19,552 shares of the company's stock valued at $1,430,000 after purchasing an additional 10,282 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Disc Medicine by 139.3% during the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company's stock valued at $5,549,000 after purchasing an additional 44,163 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Disc Medicine by 2.4% in the second 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 during the period. Institutional investors and hedge funds own 83.70% of the company's stock.

Disc Medicine Price Performance

NASDAQ IRON opened at $56.65 on Friday. The stock's 50-day moving average price is $71.96 and its two-hundred day moving average price is $71.21. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.17 billion, a PE ratio of -8.61 and a beta of 0.93. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50.

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

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving the production of red blood cells, iron metabolism and heme biology, areas that can contribute to anemia and other blood-related complications.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule therapy designed to modulate glycine transporter 1 and influence heme production. The company is evaluating bitopertin in conditions including erythropoietic protoporphyria, a rare disorder associated with painful light sensitivity, as well as polycythemia vera and other hematologic diseases.

The company is also developing additional therapies intended to regulate iron availability and address anemia associated with chronic or hematologic conditions.

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