Disc Medicine, Inc. (NASDAQ:IRON) Receives Consensus Rating of “Moderate Buy” from Analysts

Disc Medicine, Inc. (NASDAQ:IRON) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $57.29.

A number of analysts recently issued reports on IRON shares. Raymond James reissued an “outperform” rating and issued a $40.00 target price (down from $75.00) on shares of Disc Medicine in a research report on Monday, April 1st. Stifel Nicolaus lifted their target price 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. Morgan Stanley decreased 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 note on Tuesday, April 2nd. BMO Capital Markets reduced their target price on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 2nd. Finally, Wedbush reissued an “outperform” rating and set a $43.00 price target (down previously from $84.00) on shares of Disc Medicine in a report on Monday, April 1st.

Disc Medicine Trading Up 3.9 %

IRON stock opened at $27.55 on Monday. The company’s 50 day moving average is $50.99 and its two-hundred day moving average is $54.72. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a market cap of $665.06 million, a P/E ratio of -7.89 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) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, equities research analysts predict that Disc Medicine will post -4.44 earnings per share for the current year.

Insider Activity at Disc Medicine

In other Disc Medicine 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 value of $81,408.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.71% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in shares of Disc Medicine by 22.3% in the third quarter. Bank of New York Mellon Corp now owns 30,550 shares of the company’s stock valued at $1,435,000 after purchasing an additional 5,567 shares in the last quarter. Strs Ohio acquired a new position in shares of Disc Medicine in the third quarter worth $28,000. TD Asset Management Inc lifted its stake in shares of Disc Medicine by 260.5% during the 3rd quarter. TD Asset Management Inc now owns 20,214 shares of the company’s stock worth $950,000 after purchasing an additional 14,607 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Disc Medicine during the third quarter worth $6,461,000. Finally, Barclays PLC grew its position in shares of Disc Medicine by 1,932.3% in 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 period. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.