Disc Medicine, Inc. (NASDAQ:IRON) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $110.18.

Several equities analysts have weighed in on IRON shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Disc Medicine in a research note on Thursday, September 10th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Disc Medicine in a research report on Thursday, September 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Disc Medicine in a report on Tuesday, September 1st. Wall Street Zen raised shares of Disc Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Disc Medicine in a research report on Thursday, September 10th.

Disc Medicine Stock Performance

Shares of Disc Medicine stock opened at $65.24 on Monday. Disc Medicine has a 12 month low of $40.00 and a 12 month 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. The stock has a market cap of $2.50 billion, a PE ratio of -9.91 and a beta of 0.97. The business has a fifty day simple moving average of $75.98 and a 200-day simple moving average of $71.12.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($1.71) by $0.17. On average, sell-side analysts anticipate that Disc Medicine will post -6.61 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In related news, insider Rahul Khara sold 5,000 shares of Disc Medicine stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the insider owned 52,324 shares of the company’s stock, valued at approximately $4,185,920. This trade represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Yu sold 8,796 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total value of $731,123.52. Following the completion of the transaction, the chief operating officer owned 54,324 shares in the company, valued at $4,515,410.88. This trade represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 164,321 shares of company stock valued at $12,721,690. Insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IRON. BlackRock Inc. bought a new position in Disc Medicine during the second quarter valued at approximately $180,502,000. BVF Inc. IL acquired a new stake in Disc Medicine in the fourth quarter valued at approximately $51,616,000. Perceptive Advisors LLC bought a new stake in Disc Medicine in the fourth quarter worth approximately $35,794,000. Opaleye Management Inc. grew its position in Disc Medicine by 103.1% in the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after acquiring an additional 434,000 shares in the last quarter. Finally, Palo Alto Investors LP acquired a new position in shares of Disc Medicine during the 2nd quarter worth $30,473,488. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.