Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $95.73

Key Points

• Disc Medicine, Inc. (NASDAQ:IRON) has received a consensus rating of "Buy" from analysts, with an average price target of $95.73.
• Recent insider trades show a notable decline in ownership by executives, with significant shares sold by both William Jacob Savage and Kevin Bitterman in recent months.
• The company reported a loss of ($1.58) earnings per share for the last quarter, falling short of analyst expectations of ($1.17).

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has been assigned an average rating of "Buy" from the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $96.1818.

A number of equities research analysts have recently weighed in on IRON shares. HC Wainwright reiterated a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Thursday, July 3rd. Wedbush reiterated an "outperform" rating and issued a $90.00 price target on shares of Disc Medicine in a research report on Monday, July 21st. Raymond James Financial started coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target for the company. Truist Financial started coverage on shares of Disc Medicine in a research report on Monday, July 21st. They issued a "buy" rating and a $86.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday.

Disc Medicine Stock Performance

Shares of NASDAQ IRON traded down $0.66 during trading hours on Friday, reaching $58.18. 254,960 shares of the stock were exchanged, compared to its average volume of 404,435. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -13.02 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 has a 52 week low of $30.82 and a 52 week high of $68.73. The stock's fifty day simple moving average is $56.33 and its 200 day simple moving average is $51.52.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). Sell-side analysts predict that Disc Medicine will post -4.07 EPS for the current year.

Insider Activity

In other Disc Medicine news, CEO John D. Quisel sold 34,800 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total value of $1,925,484.00. Following the sale, the chief executive officer owned 161,828 shares of the company's stock, valued at approximately $8,953,943.24. This trade represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jean M. Franchi sold 2,031 shares of the firm's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the sale, the chief financial officer directly owned 63,499 shares in the company, valued at approximately $3,746,441. This represents a 3.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,622 shares of company stock valued at $7,866,795 in the last three months. Company insiders own 3.64% of the company's stock.

Institutional Investors Weigh In On Disc Medicine

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its holdings in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after purchasing an additional 503 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Disc Medicine during the fourth quarter worth $40,000. Amalgamated Bank increased its holdings in shares of Disc Medicine by 38.6% during the first quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after buying an additional 219 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after buying an additional 266 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Disc Medicine by 13,428.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock worth $47,000 after buying an additional 940 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company's stock.

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.