Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Rating of “Buy” from Brokerages

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have earned an average rating of “Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $87.50.

A number of research analysts have issued reports on IRON shares. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and issued a $83.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price on the stock. Finally, Scotiabank raised their target price on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th.

Insiders Place Their Bets

In related news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the transaction, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This trade represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Atlas Venture Life Science Advisors LLC increased its holdings in Disc Medicine by 9.7% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after buying an additional 222,223 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Disc Medicine by 4.8% in the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after acquiring an additional 83,731 shares during the period. Frazier Life Sciences Management L.P. grew its stake in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in shares of Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares during the last quarter. Finally, Logos Global Management LP bought a new position in Disc Medicine during the second quarter valued at approximately $41,690,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Trading Up 0.9 %

Disc Medicine stock opened at $62.54 on Friday. The firm has a market cap of $1.86 billion, a P/E ratio of -15.71 and a beta of 0.75. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The firm has a 50-day moving average of $62.87 and a 200-day moving average of $52.66.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. Research analysts forecast that Disc Medicine will post -4.05 earnings per share 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.