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

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has been given a consensus recommendation of "Buy" by the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $95.73.

IRON has been the subject of a number of research analyst reports. BMO Capital Markets upped their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Disc Medicine in a research report on Monday, July 21st. HC Wainwright reaffirmed a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Thursday, July 3rd. Raymond James Financial initiated coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price objective for the company. Finally, Truist Financial initiated coverage on shares of Disc Medicine in a research note on Monday, July 21st. They issued a "buy" rating and a $86.00 target price on the stock.

Insider Activity at Disc Medicine

In other news, insider William Jacob Savage sold 6,677 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $50.04, for a total transaction of $334,117.08. Following the transaction, the insider directly owned 59,721 shares in the company, valued at approximately $2,988,438.84. This represents a 10.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John D. Quisel sold 34,800 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the transaction, the chief executive officer owned 161,828 shares in the company, valued at $8,953,943.24. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,338 shares of company stock valued at $5,797,556 over the last ninety days. Company insiders own 4.24% of the company's stock.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in Disc Medicine by 67.9% in the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock valued at $116,331,000 after buying an additional 948,094 shares during the period. FMR LLC lifted its holdings in Disc Medicine by 358.7% in the fourth quarter. FMR LLC now owns 1,866,248 shares of the company's stock valued at $118,320,000 after buying an additional 1,459,434 shares during the period. RA Capital Management L.P. acquired a new position in Disc Medicine in the first quarter valued at approximately $78,288,000. Price T Rowe Associates Inc. MD lifted its holdings in Disc Medicine by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company's stock valued at $88,421,000 after buying an additional 262,690 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Disc Medicine by 22.2% in the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock valued at $64,782,000 after buying an additional 236,800 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

Disc Medicine stock traded up $0.03 on Wednesday, reaching $60.61. 224,396 shares of the stock were exchanged, compared to its average volume of 378,410. The stock has a market cap of $2.10 billion, a PE ratio of -15.46 and a beta of 0.76. The company has a current ratio of 37.65, a quick ratio of 37.65 and a debt-to-equity ratio of 0.04. Disc Medicine has a twelve month low of $30.82 and a twelve month high of $68.73. The firm has a fifty day moving average price of $52.69 and a two-hundred day moving average price of $51.41.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). Sell-side analysts anticipate that Disc Medicine will post -4.07 EPS for the current year.

About Disc Medicine

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.