Wedbush Reaffirms “Outperform” Rating for Disc Medicine (NASDAQ:IRON)

Wedbush reaffirmed their outperform rating on shares of Disc Medicine (NASDAQ:IRON) in a report released on Monday, RTT News reports. The firm currently has a $75.00 target price on the stock, up from their previous target price of $60.00.

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research note on Monday, October 28th. Jefferies Financial Group started coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, Scotiabank assumed coverage on Disc Medicine in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 target price on the stock. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $79.40.

Disc Medicine Price Performance

NASDAQ:IRON opened at $58.25 on Monday. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The business has a 50 day simple moving average of $48.58 and a 200 day simple moving average of $42.74. The firm has a market capitalization of $1.73 billion, a P/E ratio of -15.87 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.11) by $0.08. Research analysts anticipate that Disc Medicine will post -4.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently modified their holdings of the stock. Amalgamated Bank grew its stake in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Disc Medicine in the second quarter worth approximately $129,000. SG Americas Securities LLC grew its position in Disc Medicine by 44.2% in the second 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 bought a new position in shares of Disc Medicine during the 1st quarter valued at $211,000. 83.70% of the stock is 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.