Disc Medicine, Inc. (NASDAQ:IRON) Given Consensus Rating of “Moderate Buy” by Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $57.29.

A number of research analysts recently issued reports on IRON shares. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Wednesday, December 20th. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Monday, April 1st. Morgan Stanley lowered their price target on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. Raymond James reissued an “outperform” rating and set a $40.00 price target (down from $75.00) on shares of Disc Medicine in a research report on Monday, April 1st. Finally, Stifel Nicolaus raised their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Monday.

Insiders Place Their Bets

In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total value of $3,213,375.00. Following the completion of the transaction, the insider now directly owns 1,402,186 shares in the company, valued at $94,857,882.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kevin Bitterman sold 102,500 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total transaction of $6,934,125.00. Following the completion of the transaction, the director now owns 198,326 shares in the company, valued at $13,416,753.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the transaction, the insider now owns 1,402,186 shares of the company’s stock, valued at approximately $94,857,882.90. The disclosure for this sale can be found here. Company insiders own 4.71% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently bought and sold shares of IRON. Citigroup Inc. bought a new position in Disc Medicine during the fourth quarter valued at $101,000. Geode Capital Management LLC bought a new position in Disc Medicine during the fourth quarter valued at $540,000. ExodusPoint Capital Management LP bought a new position in Disc Medicine during the fourth quarter valued at $601,000. Renaissance Technologies LLC bought a new position in Disc Medicine during the fourth quarter valued at $258,000. Finally, Millennium Management LLC bought a new position in Disc Medicine during the fourth quarter valued at $294,000. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Performance

IRON stock opened at $31.52 on Thursday. Disc Medicine has a 52 week low of $20.88 and a 52 week high of $77.60. The firm’s fifty day moving average is $60.16 and its 200 day moving average is $56.15. The firm has a market cap of $760.89 million, a P/E ratio of -9.03 and a beta of 0.18.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.22). As a group, analysts forecast that Disc Medicine will post -4.44 EPS for the current year.

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.