Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has earned a consensus recommendation of "Buy" from the eleven brokerages that are currently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $98.80.
Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Cantor Fitzgerald raised their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Scotiabank boosted their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. BMO Capital Markets upped their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Wedbush reiterated an "outperform" rating and set a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st.
Check Out Our Latest Stock Analysis on IRON
Disc Medicine Price Performance
Shares of NASDAQ IRON traded down $0.90 during mid-day trading on Friday, hitting $45.45. 64,757 shares of the company's stock traded hands, compared to its average volume of 427,728. The company has a market capitalization of $1.57 billion, a P/E ratio of -11.41 and a beta of 0.77. Disc Medicine has a 1 year low of $30.65 and a 1 year high of $68.73. The company's 50-day moving average is $46.54 and its two-hundred day moving average is $54.93.
Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Equities analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.
Insider Activity at Disc Medicine
In related news, CFO Jean M. Franchi sold 3,136 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the sale, the chief financial officer now owns 69,530 shares in the company, valued at approximately $3,794,947.40. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 202,146 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $54.29, for a total value of $10,974,506.34. Following the completion of the sale, the director now directly owns 208,742 shares in the company, valued at approximately $11,332,603.18. The trade was a 49.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 356,290 shares of company stock worth $19,336,901. 4.24% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Disc Medicine
A number of large investors have recently modified their holdings of IRON. Renaissance Technologies LLC purchased a new position in Disc Medicine in the fourth quarter valued at approximately $5,479,000. Barclays PLC increased its holdings in Disc Medicine by 123.7% in the 3rd quarter. Barclays PLC now owns 40,145 shares of the company's stock valued at $1,972,000 after purchasing an additional 22,202 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Disc Medicine in the fourth quarter valued at about $5,579,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Disc Medicine in the fourth quarter worth about $235,000. Finally, Wells Fargo & Company MN grew its stake in shares of Disc Medicine by 60.2% in the fourth quarter. Wells Fargo & Company MN now owns 20,778 shares of the company's stock valued at $1,317,000 after buying an additional 7,808 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.
Disc Medicine Company Profile
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Get Free ReportDisc 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.
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