Disc Medicine, Inc. (NASDAQ:IRON) Receives $57.29 Consensus Target Price from Analysts

Disc Medicine, Inc. (NASDAQ:IRON) has been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $57.29.

A number of equities research analysts have recently issued reports on IRON shares. Wedbush reiterated an “outperform” rating and issued a $43.00 target price (down previously from $84.00) on shares of Disc Medicine in a research note on Monday, April 1st. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research report on Monday, April 1st. Stifel Nicolaus raised their price target on shares of Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a report on Monday, April 8th. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective (down previously from $75.00) on shares of Disc Medicine in a report on Monday, April 1st. Finally, Morgan Stanley lowered their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd.

Disc Medicine Stock Up 2.5 %

Disc Medicine stock opened at $28.53 on Monday. The firm has a fifty day moving average of $49.47 and a 200-day moving average of $54.46. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The firm has a market capitalization of $688.71 million, a P/E ratio of -8.17 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 the consensus estimate of ($0.75) by ($0.22). On average, research analysts expect that Disc Medicine will post -4.44 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $31.80, for a total transaction of $81,408.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Disc Medicine by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 30,550 shares of the company’s stock worth $1,435,000 after purchasing an additional 5,567 shares during the period. Strs Ohio acquired a new stake in Disc Medicine during the third quarter worth about $28,000. TD Asset Management Inc lifted its holdings in Disc Medicine by 260.5% in the third quarter. TD Asset Management Inc now owns 20,214 shares of the company’s stock worth $950,000 after acquiring an additional 14,607 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Disc Medicine in the third quarter valued at approximately $6,461,000. Finally, Barclays PLC grew its holdings in shares of Disc Medicine by 1,932.3% during the third quarter. Barclays PLC now owns 31,561 shares of the company’s stock valued at $1,483,000 after purchasing an additional 30,008 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

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.