Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Rating of "Buy" from 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 recommendation of "Buy" by the eleven research firms that are currently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $98.30.

Several equities analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Thursday, July 3rd. 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 note on Monday, August 18th. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. Raymond James Financial assumed coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target for the company. Finally, Truist Financial began coverage on Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 price objective on the stock.

Insider Transactions at Disc Medicine

In other news, CFO Jean M. Franchi sold 2,031 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the completion of the transaction, the chief financial officer directly owned 63,499 shares of the company's stock, valued at approximately $3,746,441. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John D. Quisel sold 34,800 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 161,828 shares of the company's stock, valued at $8,953,943.24. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 130,913 shares of company stock valued at $7,752,051. Company insiders own 3.64% of the company's stock.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of IRON. Wellington Management Group LLP boosted its stake in Disc Medicine by 67.9% in the 1st 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 in the last quarter. RA Capital Management L.P. bought a new position in shares of Disc Medicine during the first quarter valued at $78,288,000. Vanguard Group Inc. boosted its stake in shares of Disc Medicine by 22.2% in the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock valued at $64,782,000 after purchasing an additional 236,800 shares in the last quarter. Siren L.L.C. bought a new stake in shares of Disc Medicine in the 1st quarter worth about $53,207,000. Finally, JPMorgan Chase & Co. increased its position in shares of Disc Medicine by 11.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company's stock worth $44,678,000 after purchasing an additional 84,278 shares in the last quarter. Institutional investors own 83.70% of the company's stock.

Disc Medicine Stock Performance

Shares of Disc Medicine stock traded up $0.44 during trading on Thursday, reaching $60.34. The company's stock had a trading volume of 294,953 shares, compared to its average volume of 273,232. The business's fifty day moving average price is $59.43 and its 200-day moving average price is $52.33. Disc Medicine has a one year low of $30.82 and a one year high of $68.73. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -13.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly 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). As a group, equities research analysts predict that Disc Medicine will post -4.07 earnings per share for the current year.

Disc Medicine Company Profile

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.