Disc Medicine (NASDAQ:IRON) Issues Quarterly Earnings Results

Disc Medicine (NASDAQ:IRON) announced its quarterly earnings results on Thursday. The company reported ($1.53) EPS for the quarter, beating the consensus estimate of ($1.63) by $0.10, FiscalAI reports.

Disc Medicine Price Performance

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

Insider Buying and Selling at Disc Medicine

In related news, COO Jonathan Yu sold 8,796 shares of Disc Medicine stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the sale, the chief operating officer owned 54,324 shares in the company, valued at approximately $4,515,410.88. This trade represents a 13.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John D. Quisel sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $79.15, for a total transaction of $2,611,950.00. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares of the company’s stock, valued at approximately $17,892,965.60. This represents a 12.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 168,046 shares of company stock worth $13,191,034. 3.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on IRON. BMO Capital Markets lifted 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. Morgan Stanley increased their target price on shares of Disc Medicine from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Wells Fargo & Company raised their price target on Disc Medicine from $86.00 to $124.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. HC Wainwright boosted their price target on Disc Medicine from $120.00 to $127.00 and gave the company a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $149.00 price objective on shares of Disc Medicine in a research note on Wednesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.40.

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.