Disc Medicine (NASDAQ:IRON) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Disc Medicine (NASDAQ:IRON) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $85.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. Morgan Stanley reduced their target price on Disc Medicine from $75.00 to $40.00 and set an equal weight rating for the company in a report on Tuesday, April 2nd. Stifel Nicolaus upped their target price on Disc Medicine from $71.00 to $73.00 and gave the company a buy rating in a report on Monday, April 8th. BMO Capital Markets reduced their target price on Disc Medicine from $80.00 to $50.00 and set an outperform rating for the company in a report on Tuesday, April 2nd. Wedbush reissued an outperform rating and set a $43.00 price target (down from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. Finally, Raymond James upped their price target on Disc Medicine from $40.00 to $43.00 and gave the company an outperform rating in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Disc Medicine presently has a consensus rating of Moderate Buy and an average target price of $57.71.

Disc Medicine Stock Down 2.0 %

Shares of Disc Medicine stock opened at $33.95 on Tuesday. The firm has a market cap of $839.24 million, a price-to-earnings ratio of -10.04 and a beta of 0.44. The business has a fifty day simple moving average of $33.88 and a 200-day simple moving average of $52.06. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, May 9th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.09). Analysts anticipate that Disc Medicine will post -4.67 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 2,560 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Disc Medicine by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 30,550 shares of the company’s stock valued at $1,435,000 after acquiring an additional 5,567 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Disc Medicine during the 3rd quarter valued at about $6,461,000. Barclays PLC increased its holdings in shares of Disc Medicine by 1,932.3% during the 3rd quarter. Barclays PLC now owns 31,561 shares of the company’s stock valued at $1,483,000 after acquiring an additional 30,008 shares during the last quarter. Swiss National Bank acquired a new position in shares of Disc Medicine during the 3rd quarter valued at about $817,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Disc Medicine by 309.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 84,200 shares of the company’s stock valued at $3,956,000 after acquiring an additional 63,644 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

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.