Disc Medicine (NASDAQ:IRON) Earns Buy Rating from HC Wainwright

Disc Medicine (NASDAQ:IRON)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $70.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 19.13% from the company’s previous close.

Several other analysts have also weighed in on IRON. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $66.00 to $110.00 in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and set a $75.00 price target (up previously from $60.00) on shares of Disc Medicine in a research note on Monday. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $79.40.

Disc Medicine Stock Performance

Shares of IRON traded up $0.51 during mid-day trading on Tuesday, reaching $58.76. The company had a trading volume of 31,300 shares, compared to its average volume of 350,994. The company’s 50 day simple moving average is $48.58 and its 200 day simple moving average is $42.74. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -16.27 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.08. As a group, equities analysts forecast that Disc Medicine will post -4.09 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. Jennison Associates LLC boosted its stake in shares of Disc Medicine by 349.1% during the first quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock valued at $12,031,000 after purchasing an additional 150,209 shares during the period. Swiss National Bank lifted its stake in Disc Medicine by 50.6% in the first quarter. Swiss National Bank now owns 23,800 shares of the company’s stock worth $1,482,000 after acquiring an additional 8,000 shares during the period. ProShare Advisors LLC purchased a new stake in Disc Medicine in the first quarter worth $211,000. Bleakley Financial Group LLC lifted its stake in Disc Medicine by 23.0% in the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after acquiring an additional 856 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Disc Medicine in the first quarter worth $7,429,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.