Disc Medicine (NASDAQ:IRON) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a research note published on Monday morning, Benzinga reports. They currently have a $70.00 price objective on the stock.

A number of other equities analysts have also recently commented on IRON. BMO Capital Markets reissued 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. Wedbush reissued an outperform rating and issued a $57.00 price objective on shares of Disc Medicine in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an overweight rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company began coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an overweight rating and a $75.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $64.13.

Disc Medicine Stock Performance

Disc Medicine stock opened at $48.58 on Monday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -14.37 and a beta of 0.59. The company’s fifty day moving average price is $47.00 and its 200 day moving average price is $43.46. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced 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. Sell-side analysts predict that Disc Medicine will post -4.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank increased its position in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Disc Medicine by 23.0% during the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after buying an additional 856 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after buying an additional 1,247 shares during the period. TD Asset Management Inc lifted its holdings in Disc Medicine by 3.7% in the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock valued at $1,836,000 after acquiring an additional 1,468 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Disc Medicine by 66.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 4,641 shares of the company’s stock worth $289,000 after acquiring an additional 1,848 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.