Disc Medicine (NASDAQ:IRON) Announces Earnings Results, Beats Expectations By $0.08 EPS

Disc Medicine (NASDAQ:IRON) issued its quarterly earnings results on Thursday. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.08, Zacks reports.

Disc Medicine Trading Up 3.1 %

IRON opened at $56.18 on Friday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -14.12 and a beta of 0.73. The company has a fifty day simple moving average of $58.08 and a 200 day simple moving average of $55.51.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the transaction, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. The trade was a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pamela Stephenson sold 3,137 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $171,217.46. Following the transaction, the insider now directly owns 69,529 shares of the company’s stock, valued at $3,794,892.82. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,037 shares of company stock valued at $4,650,001 in the last ninety days. Insiders own 4.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Stifel Nicolaus boosted their target price on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. HC Wainwright reissued a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, TD Cowen began coverage on shares of Disc Medicine in a research report on Thursday. They set a “buy” rating on the stock. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and an average price target of $88.90.

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.