Disc Medicine’s (IRON) Buy Rating Reiterated at HC Wainwright

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

A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th. Scotiabank started coverage on Disc Medicine in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 target price for 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. Finally, Jefferies Financial Group started coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.40.

Disc Medicine Price Performance

IRON opened at $44.82 on Monday. The business’s 50-day moving average is $48.63 and its two-hundred day moving average is $42.44. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The firm has a market capitalization of $1.33 billion, a PE ratio of -12.21 and a beta of 0.59.

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

Institutional Trading of Disc Medicine

Several large investors have recently added to or reduced their stakes in IRON. Amalgamated Bank lifted its stake in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Disc Medicine during the 2nd quarter worth about $129,000. SG Americas Securities LLC lifted its stake in Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock worth $183,000 after acquiring an additional 1,247 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in Disc Medicine during the 1st quarter worth about $211,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.