Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $96.70

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eleven analysts that are covering the stock, Marketbeat.com reports. Ten 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 target among brokerages that have issued ratings on the stock in the last year is $96.70.

Several equities research analysts recently weighed in on IRON shares. Raymond James Financial started 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. HC Wainwright reiterated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, June 17th. BMO Capital Markets lifted their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Cantor Fitzgerald upped their target price on Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th.

Disc Medicine Price Performance

Shares of IRON stock traded down $1.83 during trading on Friday, hitting $51.13. The company had a trading volume of 284,638 shares, compared to its average volume of 339,360. The firm has a market capitalization of $1.77 billion, a P/E ratio of -13.04 and a beta of 0.76. Disc Medicine has a one year low of $30.82 and a one year high of $68.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 37.65 and a current ratio of 37.65. The stock's 50-day moving average price is $48.83 and its 200 day moving average price is $52.23.

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). Equities analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jean M. Franchi sold 2,000 shares of Disc Medicine stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $52.26, for a total transaction of $104,520.00. Following the sale, the chief financial officer directly owned 67,530 shares of the company's stock, valued at approximately $3,529,117.80. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William Jacob Savage sold 6,677 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total value of $334,117.08. Following the sale, the insider owned 59,721 shares in the company, valued at approximately $2,988,438.84. This trade represents a 10.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,773 shares of company stock valued at $693,794 over the last quarter. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new stake in Disc Medicine during the 1st quarter worth approximately $78,288,000. FMR LLC lifted its holdings in shares of Disc Medicine by 358.7% during the fourth quarter. FMR LLC now owns 1,866,248 shares of the company's stock worth $118,320,000 after purchasing an additional 1,459,434 shares during the period. Siren L.L.C. bought a new stake in shares of Disc Medicine in the first quarter worth $53,207,000. Wellington Management Group LLP increased 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 purchasing an additional 948,094 shares during the period. Finally, Janus Henderson Group PLC raised its position in Disc Medicine by 62.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock worth $77,170,000 after purchasing an additional 467,988 shares during the last quarter. Institutional investors 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.