Disc Medicine, Inc. (NASDAQ:IRON) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts have assigned Disc Medicine, Inc. a consensus rating of “Moderate Buy”, with an average 12-month price target of $98.30.
• Disc Medicine reported a quarterly loss of ($1.58) per share, missing expectations by ($0.41).
• Insider transactions revealed significant sales, with the CEO selling 34,800 shares and CFO selling 2,031 shares, indicating notable shifts in their ownership stakes.

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $98.30.

A number of equities research analysts recently weighed in on the company. 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. Truist Financial began coverage on Disc Medicine in a research report on Monday, July 21st. They issued a "buy" rating and a $86.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Disc Medicine in a research report on Saturday, September 27th. HC Wainwright restated a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Thursday, July 3rd. Finally, Raymond James Financial began coverage on Disc Medicine in a research report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price for the company.

Disc Medicine Trading Up 2.9%

Shares of Disc Medicine stock opened at $67.78 on Monday. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $68.79. The company's fifty day simple moving average is $60.84 and its 200-day simple moving average is $53.24. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -15.16 and a beta of 0.80. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly 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). As a group, sell-side analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insider Transactions at Disc Medicine

In other news, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine 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 sale, the chief financial officer directly owned 63,499 shares in the company, valued at approximately $3,746,441. The trade was a 3.10% decrease in their position. The sale 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 company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the completion of the sale, the chief executive officer directly owned 161,828 shares in the company, valued at approximately $8,953,943.24. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 125,713 shares of company stock valued at $7,465,583. 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 the stock. Amalgamated Bank boosted its stake in Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after buying an additional 219 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted 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 valued at $47,000 after acquiring an additional 940 shares during the period. CWM LLC boosted its stake in shares of Disc Medicine by 213.5% in the 2nd quarter. CWM LLC now owns 1,044 shares of the company's stock valued at $55,000 after purchasing an additional 711 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at $57,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Disc Medicine by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock worth $71,000 after purchasing an additional 181 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.

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