Disc Medicine, Inc. (NASDAQ:IRON) Receives $93.80 Average Price Target from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has been given an average recommendation of “Buy” by the eleven analysts that are covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $93.80.

Several equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Scotiabank boosted their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. TD Cowen started coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald boosted their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th.

Disc Medicine Stock Performance

IRON opened at $53.70 on Thursday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -13.49 and a beta of 0.73. The company has a fifty day moving average of $55.16 and a 200 day moving average of $56.13. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, equities research analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John D. Quisel sold 13,012 shares of Disc Medicine stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $61.95, for a total transaction of $806,093.40. Following the completion of the sale, the chief executive officer now owns 72,065 shares in the company, valued at $4,464,426.75. This trade represents a 15.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $87,873.80. Following the completion of the sale, the chief operating officer now directly owns 40,555 shares of the company’s stock, valued at approximately $2,213,491.90. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,464 shares of company stock valued at $20,614,329 over the last 90 days. Insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after acquiring an additional 266 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Disc Medicine by 8.9% in the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock valued at $308,000 after purchasing an additional 396 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 503 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after purchasing an additional 593 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Disc Medicine during the fourth quarter valued at approximately $40,000. 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.