Disc Medicine (NASDAQ:IRON) Posts Earnings Results, Beats Expectations By $0.15 EPS

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

Disc Medicine Price Performance

Shares of IRON opened at $63.26 on Wednesday. The company’s 50-day moving average is $50.53 and its 200-day moving average is $44.51. The firm has a market capitalization of $1.88 billion, a PE ratio of -17.24 and a beta of 0.60. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Wall Street Analysts Forecast Growth

IRON has been the topic of several 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 on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank increased their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Jefferies Financial Group started coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. Finally, 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 research report on Monday, November 4th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and an average target price of $81.00.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the firm’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 transaction of $418,240.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 7,538 shares of company stock worth $437,875. Insiders own 4.24% of the company’s stock.

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.