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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $105.90.

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Disc Medicine from a “hold” rating to a “sell” rating in a report on Saturday. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Disc Medicine in a research report on Thursday, September 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Disc Medicine in a report on Thursday, September 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $128.00 target price on shares of Disc Medicine in a research report on Thursday, September 10th.

Insider Activity at Disc Medicine

In related news, Director Kevin Bitterman sold 49,164 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the transaction, the director directly owned 13,499 shares of the company’s stock, valued at approximately $1,082,214.83. This trade represents a 78.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Rahul Khara sold 5,000 shares of Disc Medicine stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the insider owned 52,324 shares in the company, valued at approximately $4,185,920. The trade was a 8.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 131,221 shares of company stock worth $10,239,760 in the last quarter. Company insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Disc Medicine in the second quarter valued at approximately $180,502,000. Wellington Management Group LLP boosted its stake in shares of Disc Medicine by 0.3% in the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock worth $127,362,000 after acquiring an additional 5,975 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Disc Medicine by 191.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock worth $73,280,000 after purchasing an additional 735,300 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Disc Medicine by 103.1% during the second 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. Finally, BVF Inc. IL purchased a new stake in shares of Disc Medicine during the fourth quarter worth approximately $51,616,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Price Performance

Disc Medicine stock opened at $56.84 on Friday. The stock has a market capitalization of $217.98 million, a PE ratio of -8.64 and a beta of 0.93. Disc Medicine has a 12 month low of $40.00 and a 12 month high of $99.50. The business has a 50 day simple moving average of $71.55 and a 200-day simple moving average of $71.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.17. On average, analysts anticipate that Disc Medicine will post -6.61 EPS for the current fiscal year.

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving the production of red blood cells, iron metabolism and heme biology, areas that can contribute to anemia and other blood-related complications.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule therapy designed to modulate glycine transporter 1 and influence heme production. The company is evaluating bitopertin in conditions including erythropoietic protoporphyria, a rare disorder associated with painful light sensitivity, as well as polycythemia vera and other hematologic diseases.

The company is also developing additional therapies intended to regulate iron availability and address anemia associated with chronic or hematologic conditions.