Disc Medicine, Inc. (NASDAQ:IRON) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts rate Disc Medicine a “Moderate Buy”: 12 of 14 covering analysts recommend buying, with one hold and one sell. The average 12-month price target is $124.18, and several firms recently raised targets or initiated coverage with buy ratings.
• Insiders have been selling shares: Company insiders sold 168,046 shares worth about $13.2 million over the past 90 days; insiders own 3.76% of the stock. Institutional investors own 83.70%, with some funds substantially increasing their stakes.
• Disc Medicine shares opened at $81.26, and the company reported a quarterly loss of $1.53 per share, beating the consensus estimate of a $1.63 loss by $0.10.

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $124.18.

Several analysts have recently issued reports on IRON shares. Jefferies Financial Group reissued a "buy" rating and set a $149.00 target price on shares of Disc Medicine in a report on Wednesday, October 21st. HC Wainwright boosted their price target on Disc Medicine from $120.00 to $127.00 and gave the company a "buy" rating in a research note on Friday. Truist Financial boosted their price target on Disc Medicine from $83.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, October 19th. BMO Capital Markets upped their price objective on shares of Disc Medicine from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, October 19th. Finally, Guggenheim initiated coverage on shares of Disc Medicine in a research note on Monday. They set a "buy" rating and a $132.00 price objective on the stock.

Insider Activity

In other news, COO Jonathan Yu sold 8,796 shares of the business's 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 transaction, the chief operating officer directly owned 54,324 shares in the company, valued at approximately $4,515,410.88. The trade was a 13.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Quisel sold 33,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 226,064 shares of the company's stock, valued at approximately $17,892,965.60. This trade represents a 12.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 168,046 shares of company stock worth $13,191,034. 3.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at $180,502,000. Wellington Management Group LLP increased its stake in shares of Disc Medicine by 0.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company's stock valued at $127,362,000 after purchasing an additional 5,975 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Disc Medicine by 191.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company's stock worth $73,280,000 after buying an additional 735,300 shares in the last quarter. Opaleye Management Inc. raised 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 buying an additional 434,000 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in shares of Disc Medicine by 36.4% during the 3rd quarter. Aberdeen Group plc now owns 597,841 shares of the company's stock worth $39,135,000 after buying an additional 159,667 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Trading Up 3.0%

Shares of NASDAQ:IRON opened at $81.26 on Tuesday. The company has a market capitalization of $3.12 billion, a P/E ratio of -12.82 and a beta of 0.96. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50. 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 business's 50 day simple moving average is $71.23 and its 200 day simple moving average is $70.97.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($1.53) earnings per share for the quarter, beating the consensus estimate of ($1.63) by $0.10. On average, research analysts anticipate that Disc Medicine will post -6.54 EPS for the current fiscal year.

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function.

The company's development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.