Disc Medicine (NASDAQ:IRON) Issues Earnings Results

Disc Medicine (NASDAQ:IRON) issued its quarterly earnings data on Thursday. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.08, Zacks reports.

Disc Medicine Stock Performance

IRON stock traded up $0.75 during trading on Thursday, reaching $55.21. 142,787 shares of the company were exchanged, compared to its average volume of 396,760. The stock’s 50 day moving average price is $58.42 and its 200 day moving average price is $55.44. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The company has a market cap of $1.64 billion, a P/E ratio of -13.87 and a beta of 0.73.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IRON. TD Cowen started coverage on Disc Medicine in a report on Thursday. They set a “buy” rating on the stock. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Stifel Nicolaus increased their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.90.

Insider Buying and Selling at Disc Medicine

In related news, 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 value of $87,873.80. Following the sale, the chief operating officer now directly owns 40,555 shares in the company, valued at $2,213,491.90. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela Stephenson sold 3,137 shares of the firm’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 $171,217.46. Following the transaction, the insider now owns 69,529 shares of the company’s stock, valued at $3,794,892.82. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,037 shares of company stock valued at $4,650,001. Corporate insiders own 4.24% 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.