Disc Medicine, Inc. (NASDAQ:IRON) Stock Has Average Target Price of $110.18

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $110.18.

IRON has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on Disc Medicine from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 16th. Wall Street Zen upgraded Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Disc Medicine in a research report on Tuesday, September 1st. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Disc Medicine in a report on Thursday, September 10th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Disc Medicine in a research report on Thursday, September 10th.

Disc Medicine Stock Down 1.8%

IRON stock opened at $65.24 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The stock has a market capitalization of $2.50 billion, a PE ratio of -9.91 and a beta of 0.97. Disc Medicine has a one year low of $40.00 and a one year high of $99.50. The company has a fifty day moving average of $75.98 and a 200-day moving average of $71.07.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.17. As a group, analysts expect that Disc Medicine will post -6.61 EPS for the current year.

Insider Activity at Disc Medicine

In other news, COO Jonathan Yu sold 8,796 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the transaction, the chief operating officer owned 54,324 shares in the company, valued at approximately $4,515,410.88. This trade represents a 13.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin Bitterman sold 27,136 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96. Following the sale, the director owned 7,136 shares of the company’s stock, valued at $500,304.96. The trade was a 79.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 165,970 shares of company stock worth $12,845,365 over the last three months. 3.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently modified their holdings of IRON. Opaleye Management Inc. increased its stake in Disc Medicine by 103.1% during the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after purchasing an additional 434,000 shares in the last quarter. Engineers Gate Manager LP raised its stake in Disc Medicine by 110.9% in the 2nd quarter. Engineers Gate Manager LP now owns 19,552 shares of the company’s stock worth $1,430,000 after purchasing an additional 10,282 shares in the last quarter. Squarepoint Ops LLC increased its stake in Disc Medicine by 139.3% during the 2nd quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock worth $5,549,000 after acquiring an additional 44,163 shares during the period. Arizona State Retirement System lifted its holdings in shares of Disc Medicine by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 6,844 shares of the company’s stock worth $501,000 after acquiring an additional 160 shares during the period. Finally, Nykredit A S acquired a new position in Disc Medicine during the 2nd quarter worth approximately $103,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.