Disc Medicine (NASDAQ:IRON) Announces Earnings Results

Key Points

• Disc Medicine reported a quarterly loss of $1.53 per share, $0.10 better than analysts’ consensus estimate of a $1.63 loss.
• Analysts raised several price targets, and the stock carries a “Moderate Buy” consensus rating with an average target of $123.40; shares traded at $78.91 after rising 0.6%.
• Company insiders sold 168,046 shares worth about $13.2 million during the last quarter, including sales by a director and the COO.

Disc Medicine (NASDAQ:IRON - Get Free Report) announced its earnings results on Thursday. The company reported ($1.53) earnings per share for the quarter, beating analysts' consensus estimates of ($1.63) by $0.10, FiscalAI reports.

Disc Medicine Stock Up 0.6%

Shares of Disc Medicine stock traded up $0.44 on Friday, reaching $78.91. The company's stock had a trading volume of 717,525 shares, compared to its average volume of 1,606,871. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -12.45 and a beta of 0.96. The firm's fifty day simple moving average is $71.21 and its two-hundred day simple moving average is $70.93. Disc Medicine has a 52 week low of $40.00 and a 52 week high of $99.50. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IRON shares. HC Wainwright raised their price target on Disc Medicine from $120.00 to $127.00 and gave the company a "buy" rating in a report on Friday. Cantor Fitzgerald upped their price target on shares of Disc Medicine from $125.00 to $170.00 and gave the stock an "overweight" rating in a research note on Monday, October 19th. Wall Street Zen raised shares of Disc Medicine from a "sell" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets raised their price objective on shares of Disc Medicine from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, October 19th. Finally, Truist Financial raised their price objective on shares of Disc Medicine from $83.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, October 19th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $123.40.

Insider Transactions at Disc Medicine

In related news, Director Kevin Bitterman sold 49,164 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $80.17, for a total transaction of $3,941,477.88. Following the sale, the director directly owned 13,499 shares of the company's stock, valued at $1,082,214.83. This trade represents a 78.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Yu sold 8,796 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total value of $731,123.52. Following the sale, the chief operating officer directly owned 54,324 shares in the company, valued at $4,515,410.88. This trade represents a 13.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 168,046 shares of company stock worth $13,191,034 over the last quarter. 3.76% of the stock is currently owned by insiders.

Disc Medicine Company Profile

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company's pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.