Disc Medicine, Inc. (NASDAQ:IRON) Receives $98.80 Consensus Target Price from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has received a consensus rating of "Buy" from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $98.80.

IRON has been the subject of several research analyst reports. Scotiabank lifted their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Cantor Fitzgerald lifted their price target on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. TD Cowen initiated coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They set a "buy" rating for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. Finally, BMO Capital Markets lifted their price target 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.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director Mona Ashiya sold 83,182 shares of Disc Medicine stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $54.45, for a total value of $4,529,259.90. Following the transaction, the director now owns 194,209 shares in the company, valued at $10,574,680.05. The trade was a 29.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jacob Savage sold 2,100 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the sale, the insider now owns 66,398 shares of the company's stock, valued at approximately $3,331,187.66. This represents a 3.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 349,510 shares of company stock worth $18,936,535 over the last quarter. Insiders own 4.24% of the company's stock.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC lifted its holdings in shares of Disc Medicine by 798.4% during 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 during the last quarter. Amalgamated Bank lifted its holdings in shares of Disc Medicine by 38.6% during the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after purchasing an additional 219 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Disc Medicine during the 4th quarter valued at $40,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Disc Medicine by 13,428.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock valued at $47,000 after purchasing an additional 940 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Stock Performance

IRON stock traded up $1.14 during midday trading on Tuesday, reaching $48.46. The company's stock had a trading volume of 239,937 shares, compared to its average volume of 414,185. The stock has a fifty day simple moving average of $44.78 and a two-hundred day simple moving average of $53.86. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $68.73. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -12.18 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, analysts forecast that Disc Medicine will post -4.07 EPS for the current fiscal year.

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.