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

Cantor Fitzgerald reiterated their overweight rating on shares of Disc Medicine (NASDAQ:IRON) in a report released on Tuesday morning, Benzinga reports. They currently have a $85.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets restated an outperform rating and issued a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Wedbush restated an outperform rating and issued a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. Wells Fargo & Company initiated coverage on Disc Medicine in a research note on Thursday, August 22nd. They set an overweight rating and a $75.00 price objective for the company. Finally, HC Wainwright reiterated a buy rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $64.13.

Disc Medicine Stock Down 0.7 %

Shares of IRON stock opened at $47.64 on Tuesday. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The business has a 50-day simple moving average of $48.32 and a 200-day simple moving average of $41.24. The stock has a market cap of $1.18 billion, a PE ratio of -14.09 and a beta of 0.59.

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

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently made changes to their positions in IRON. Frazier Life Sciences Management L.P. grew its position in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after purchasing an additional 969,834 shares in the last quarter. Logos Global Management LP purchased a new stake in shares of Disc Medicine in the second quarter valued at approximately $41,690,000. Point72 Asset Management L.P. purchased a new stake in shares of Disc Medicine in the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C grew its position 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 grew its position in shares of Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after purchasing an additional 353,382 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.