Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) PT at $87.50

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received an average rating of “Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $87.50.

A number of research analysts have recently issued reports on IRON shares. Stifel Nicolaus boosted their target price on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and issued a $83.00 target price on shares of Disc Medicine in a report on Friday. Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Monday, December 9th. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $66.00 to $110.00 in a report on Monday, November 4th.

Insiders Place Their Bets

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the sale, the insider now directly owns 14,035 shares in the company, valued at approximately $880,696.25. The trade was a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the sale, the chief executive officer now owns 72,065 shares in the company, valued at $4,757,010.65. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,758 shares of company stock worth $5,400,990. 4.24% of the stock is owned by corporate insiders.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank lifted its position in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Disc Medicine in the third quarter valued at $131,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Disc Medicine during the second quarter worth about $129,000. Finally, Quantbot Technologies LP purchased a new position in Disc Medicine during the third quarter worth about $146,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Stock Down 5.3 %

IRON opened at $59.24 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -14.88 and a beta of 0.75. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The business’s 50 day moving average is $63.46 and its two-hundred day moving average is $52.82.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Equities analysts expect that Disc Medicine will post -4.05 EPS for the current fiscal year.

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.