Disc Medicine’s (IRON) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Disc Medicine (NASDAQ:IRON)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They currently have a $85.00 target price on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 77.82% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a report on Monday. Wells Fargo & Company began coverage on Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $70.00 price objective (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Finally, Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Disc Medicine presently has an average rating of “Moderate Buy” and a consensus price target of $64.13.

Disc Medicine Trading Down 1.6 %

IRON stock traded down $0.78 during midday trading on Friday, hitting $47.80. The stock had a trading volume of 52,740 shares, compared to its average volume of 354,474. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The stock has a 50-day simple moving average of $47.00 and a 200 day simple moving average of $43.46. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.14 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. On average, equities analysts forecast that Disc Medicine will post -4.19 EPS for the current year.

Institutional Trading of Disc Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. lifted its position in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares in the last quarter. Logos Global Management LP acquired a new position in shares of Disc Medicine during the second quarter worth approximately $41,690,000. Point72 Asset Management L.P. bought a new stake in shares of Disc Medicine during the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C increased its holdings in shares of Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after purchasing an additional 353,382 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.