Disc Medicine, Inc. (NASDAQ:IRON) Given Average Rating of "Buy" by Brokerages

Key Points

• The shares of Disc Medicine, Inc. (NASDAQ:IRON) have received a consensus rating of "Buy" from eleven research firms, with an average price target of $98.30.
• Despite a recent earnings report indicating a loss of ($1.58) EPS, the company has a strong market presence, with a market cap of $2.08 billion and significant institutional ownership at 83.70%.
• Insider trading activity revealed that CEO John D. Quisel sold 34,800 shares, representing a 17.70% decrease in ownership, while director Kevin Bitterman also sold shares, indicating potential profit-taking by insiders.

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) have been given a consensus rating of "Buy" by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $98.30.

Several research firms have recently issued reports on IRON. 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. Morgan Stanley increased their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. HC Wainwright reissued a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Thursday, July 3rd. Truist Financial started coverage on Disc Medicine in a report on Monday, July 21st. They set a "buy" rating and a $86.00 price objective on the stock. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a report on Monday, July 21st.

Disc Medicine Price Performance

Disc Medicine stock opened at $59.94 on Thursday. The firm has a market cap of $2.08 billion, a PE ratio of -13.41 and a beta of 0.77. The company's 50 day moving average is $58.94 and its two-hundred day moving average is $52.20. Disc Medicine has a 52-week low of $30.82 and a 52-week high of $68.73. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, research analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insider Activity

In other Disc Medicine news, CEO John D. Quisel sold 34,800 shares of Disc Medicine stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total value of $1,925,484.00. Following the transaction, the chief executive officer directly owned 161,828 shares in the company, valued at approximately $8,953,943.24. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Bitterman sold 2,287 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $139,575.61. Following the completion of the sale, the director directly owned 590,621 shares of the company's stock, valued at $36,045,599.63. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,913 shares of company stock valued at $7,856,571. 3.64% of the stock is currently owned by company insiders.

Institutional Trading of Disc Medicine

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its stake in shares of Disc Medicine by 9.5% during the fourth quarter. Northern Trust Corp now owns 187,017 shares of the company's stock worth $11,857,000 after purchasing an additional 16,299 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Disc Medicine in the 4th quarter valued at $335,000. BNP Paribas Financial Markets purchased a new position in Disc Medicine during the 4th quarter worth $324,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Disc Medicine in the 4th quarter worth $1,280,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Disc Medicine during the fourth quarter worth about $5,147,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.