Disc Medicine (NASDAQ:IRON) Issues Earnings Results

Disc Medicine (NASDAQ:IRON) issued its quarterly earnings data on Thursday. The company reported ($1.53) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.10, FiscalAI reports.

Disc Medicine Price Performance

NASDAQ IRON traded up $0.44 on Friday, hitting $78.91. 717,525 shares of the company’s stock were exchanged, compared to its average volume of 1,606,871. The stock has a 50-day moving average of $71.21 and a 200-day moving average of $70.93. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine has a 52 week low of $40.00 and a 52 week high of $99.50. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -12.45 and a beta of 0.96.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IRON shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a report on Thursday, October 15th. Wall Street Zen upgraded shares of Disc Medicine from a “sell” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets boosted their price target on Disc Medicine from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. Wedbush raised their price objective on Disc Medicine from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 19th. Finally, Morgan Stanley lifted their price objective on Disc Medicine from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.40.

Insider Activity

In related news, Director Kevin Bitterman sold 49,164 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $80.17, for a total transaction of $3,941,477.88. Following the completion of the sale, the director directly owned 13,499 shares in the company, valued at $1,082,214.83. This represents a 78.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Yu sold 8,796 shares of the firm’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 sale, the chief operating officer directly owned 54,324 shares in the company, valued at $4,515,410.88. This trade represents a 13.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 168,046 shares of company stock worth $13,191,034. Insiders own 3.76% of the company’s stock.

About Disc Medicine

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.