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

Disc Medicine (NASDAQ:IRON) posted its 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 Price Performance

Shares of IRON stock opened at $63.06 on Thursday. The company has a market capitalization of $1.87 billion, a P/E ratio of -15.84 and a beta of 0.60. The company’s 50-day simple moving average is $50.81 and its two-hundred day simple moving average is $44.64. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

Analyst Ratings Changes

IRON has been the topic of several analyst reports. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $66.00 to $110.00 in a report on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $83.00 price target (up from $75.00) on shares of Disc Medicine in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Morgan Stanley upgraded 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 report on Tuesday, November 5th. Finally, Scotiabank upped their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine currently has an average rating of “Buy” and a consensus price target of $85.80.

Insiders Place Their Bets

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Insiders have sold 7,538 shares of company stock worth $437,875 in the last three months. Corporate insiders own 4.24% of the company’s stock.

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.