Disc Medicine (NASDAQ:IRON) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research report released on Monday, Benzinga reports. They currently have a $70.00 price target on the stock.

A number of other research firms also recently commented on IRON. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Wells Fargo & Company started coverage on Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th. Scotiabank assumed coverage on shares of Disc Medicine in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.40.

Disc Medicine Price Performance

NASDAQ IRON opened at $46.19 on Monday. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The company has a market cap of $1.14 billion, a PE ratio of -13.67 and a beta of 0.59. The stock’s 50 day simple moving average is $48.86 and its 200-day simple moving average is $42.31.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.11) by $0.08. On average, equities research analysts anticipate that Disc Medicine will post -4.19 EPS for the current fiscal year.

Institutional Trading of Disc Medicine

Large investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in Disc Medicine by 349.1% during the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock worth $12,031,000 after buying an additional 150,209 shares during the last quarter. Swiss National Bank grew its position in shares of Disc Medicine by 50.6% during the first quarter. Swiss National Bank now owns 23,800 shares of the company’s stock worth $1,482,000 after acquiring an additional 8,000 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Disc Medicine in the 1st quarter valued at $211,000. Bleakley Financial Group LLC increased its holdings in shares of Disc Medicine by 23.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after acquiring an additional 856 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Disc Medicine in the 1st quarter valued at $7,429,000. Hedge funds and other institutional investors own 83.70% 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.