HC Wainwright Reiterates “Buy” Rating for Disc Medicine (NASDAQ:IRON)

Disc Medicine (NASDAQ:IRON)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Monday, Benzinga reports. They presently have a $70.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 47.84% from the stock’s previous close.

A number of other analysts also recently issued reports on IRON. Wells Fargo & Company initiated coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, May 28th. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.13.

Disc Medicine Trading Down 0.7 %

Shares of NASDAQ IRON opened at $47.35 on Monday. The stock has a market cap of $1.17 billion, a PE ratio of -14.01 and a beta of 0.59. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The company has a 50-day moving average of $46.96 and a 200 day moving average of $43.63.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. On average, sell-side analysts forecast that Disc Medicine will post -4.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently made changes to their positions in the stock. Amalgamated Bank lifted its stake in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Disc Medicine by 23.0% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after purchasing an additional 856 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after purchasing an additional 1,247 shares during the period. TD Asset Management Inc grew its holdings in shares of Disc Medicine by 3.7% in the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock valued at $1,836,000 after purchasing an additional 1,468 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Disc Medicine by 66.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,641 shares of the company’s stock worth $289,000 after buying an additional 1,848 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.