Disc Medicine (NASDAQ:IRON) Announces Earnings Results

Disc Medicine (NASDAQ:IRON) issued its quarterly earnings results on Tuesday. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15, Briefing.com reports.

Disc Medicine Stock Performance

Shares of NASDAQ IRON opened at $63.26 on Wednesday. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The firm has a 50 day moving average price of $50.53 and a two-hundred day moving average price of $44.51.

Wall Street Analysts Forecast Growth

IRON has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Tuesday, November 5th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a research note on Tuesday. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Disc Medicine presently has an average rating of “Buy” and an average target price of $81.00.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is currently owned by company insiders.

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.