Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Rating of “Moderate Buy” from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $64.13.

Several brokerages have issued reports on IRON. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a report on Monday, September 16th. BMO Capital Markets restated an “outperform” rating and set a $70.00 target price (up previously from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Friday, September 20th. Finally, 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.

Institutional Investors Weigh In On Disc Medicine

Large investors have recently modified their holdings of the business. Frazier Life Sciences Management L.P. raised its position 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 purchasing an additional 969,834 shares during the last quarter. Logos Global Management LP acquired a new position in Disc Medicine during the 2nd quarter valued at approximately $41,690,000. Point72 Asset Management L.P. purchased a new position in shares of Disc Medicine in the second quarter worth $34,318,000. Deerfield Management Company L.P. Series C lifted its stake 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 worth $46,119,000 after buying an additional 357,730 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Disc Medicine by 59.8% during 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 buying an additional 353,382 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Performance

Shares of NASDAQ IRON opened at $49.14 on Thursday. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -14.54 and a beta of 0.59. The stock has a 50 day moving average price of $47.19 and a 200 day moving average price of $42.30.

Disc Medicine (NASDAQ:IRON) last issued its 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. Analysts forecast that Disc Medicine will post -4.19 earnings per share for the current year.

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.