Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) PT at $63.89

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $66.40.

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set 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 issued an “overweight” rating and a $75.00 target price on the stock. Scotiabank assumed coverage on Disc Medicine in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 target price for the company. Jefferies Financial Group began coverage on shares of Disc Medicine in a research note on Wednesday. They set a “buy” rating and a $89.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research note on Monday, September 16th.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after acquiring an additional 969,834 shares during the period. Logos Global Management LP purchased a new position in Disc Medicine in the second quarter valued at about $41,690,000. Point72 Asset Management L.P. bought a new position in Disc Medicine in the second quarter worth about $34,318,000. Deerfield Management Company L.P. Series C lifted its position in shares of Disc Medicine by 53.8% during 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 buying an additional 357,730 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $58,788,000 after buying an additional 353,382 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Up 0.0 %

NASDAQ IRON opened at $46.01 on Monday. The business has a 50-day moving average price of $48.92 and a 200-day moving average price of $42.06. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -13.61 and a beta of 0.59. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

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

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.