Disc Medicine (NASDAQ:IRON) Stock Rating Reaffirmed by HC Wainwright

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

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company started coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an overweight rating and a $75.00 price target for the company. Wedbush reissued an outperform rating and set a $57.00 target price on shares of Disc Medicine in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday, May 28th. Finally, BMO Capital Markets reissued an outperform rating and set a $70.00 price objective (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $64.13.

Disc Medicine Stock Performance

IRON stock opened at $48.58 on Monday. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -14.37 and a beta of 0.59. The firm has a 50-day simple moving average of $47.00 and a two-hundred day simple moving average of $43.46.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.08. As a group, equities analysts predict that Disc Medicine will post -4.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. raised its stake in shares of 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 valued at $79,090,000 after buying an additional 969,834 shares during the last quarter. Logos Global Management LP purchased a new position in Disc Medicine during the second quarter valued at approximately $41,690,000. Point72 Asset Management L.P. acquired a new position in Disc Medicine in the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C boosted its position in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after purchasing an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted 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 in the last quarter. 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.