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

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has been given a consensus rating of "Buy" by the eleven research firms that are covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $96.70.

IRON has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, June 17th. BMO Capital Markets lifted their price objective on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. 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 target for the company. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Disc Medicine in a report on Monday, June 16th.

Disc Medicine Stock Up 0.7%

Shares of NASDAQ:IRON opened at $54.50 on Friday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -13.90 and a beta of 0.73. The company has a 50 day moving average of $48.47 and a two-hundred day moving average of $52.50. 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 37.65, a current ratio of 37.65 and a debt-to-equity ratio of 0.04.

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

Insiders Place Their Bets

In other Disc Medicine news, insider William Jacob Savage sold 2,100 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now owns 66,398 shares of the company's stock, valued at $3,331,187.66. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jean M. Franchi sold 2,000 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $52.26, for a total value of $104,520.00. Following the sale, the chief financial officer now owns 67,530 shares in the company, valued at $3,529,117.80. The trade was a 2.88% 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 90 days. 4.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of Disc Medicine by 5.7% in the 4th quarter. Rhumbline Advisers now owns 29,036 shares of the company's stock worth $1,841,000 after acquiring an additional 1,553 shares during the period. Bank of New York Mellon Corp grew its position in Disc Medicine by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 57,261 shares of the company's stock worth $3,630,000 after purchasing an additional 4,356 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Disc Medicine by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 165,072 shares of the company's stock valued at $10,466,000 after purchasing an additional 4,518 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Disc Medicine by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 236,244 shares of the company's stock valued at $14,978,000 after buying an additional 16,230 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Disc Medicine during the fourth quarter valued at approximately $5,579,000. 83.70% of the stock is currently owned by institutional investors.

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.

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