Disc Medicine, Inc. (NASDAQ:IRON) Receives $87.50 Average Price Target from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $87.50.

Several equities research analysts have commented on IRON shares. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Wedbush restated an “outperform” rating and set a $83.00 price target on shares of Disc Medicine in a research note on Friday. Jefferies Financial Group initiated coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. Finally, Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th.

Disc Medicine Trading Down 5.3 %

NASDAQ IRON opened at $59.24 on Friday. The business’s 50-day moving average price is $63.46 and its 200 day moving average price is $52.82. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The company has a market capitalization of $1.76 billion, a PE ratio of -14.88 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. Equities analysts predict that Disc Medicine will post -4.05 EPS for the current year.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Richard White sold 7,136 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,758 shares of company stock valued at $5,400,990. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IRON. Frazier Life Sciences Management L.P. lifted its holdings in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares during the last quarter. Logos Global Management LP bought a new position in Disc Medicine during the 2nd quarter worth approximately $41,690,000. Point72 Asset Management L.P. bought a new position in Disc Medicine during the 2nd quarter worth approximately $34,318,000. Deerfield Management Company L.P. Series C lifted its holdings in Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Disc Medicine by 68.2% in the 3rd quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after purchasing an additional 303,954 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

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.