Disc Medicine (NASDAQ:IRON) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

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

Disc Medicine Stock Up 0.6 %

IRON traded up $0.30 during midday trading on Thursday, hitting $54.76. 110,576 shares of the company traded hands, compared to its average volume of 395,404. The company’s 50-day moving average is $58.42 and its 200 day moving average is $55.44. The firm has a market capitalization of $1.63 billion, a PE ratio of -13.77 and a beta of 0.73. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60.

Insider Transactions at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 5,574 shares of the firm’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 transaction of $304,228.92. Following the sale, the chief executive officer now owns 154,828 shares in the company, valued at approximately $8,450,512.24. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jean M. Franchi sold 3,136 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,162.88. Following the sale, the chief financial officer now owns 69,530 shares of the company’s stock, valued at $3,794,947.40. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,037 shares of company stock worth $4,650,001 over the last three months. 4.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IRON has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Stifel Nicolaus increased their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. HC Wainwright restated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, TD Cowen initiated coverage on shares of Disc Medicine in a research note on Thursday. They set a “buy” rating for the company. Ten 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, the company currently has a consensus rating of “Buy” and an average price target of $88.90.

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.