Disc Medicine’s (IRON) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Disc Medicine (NASDAQ:IRON) in a report published on Monday morning, Benzinga reports. HC Wainwright currently has a $70.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an overweight rating and a $75.00 price objective on the stock. Cantor Fitzgerald reiterated an overweight rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, May 28th. Wedbush restated an outperform rating and issued a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. Finally, BMO Capital Markets restated an outperform rating and issued a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Disc Medicine presently has a consensus rating of Moderate Buy and an average price target of $64.13.

Disc Medicine Stock Performance

Shares of IRON stock opened at $47.65 on Monday. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The company’s 50-day simple moving average is $46.97 and its 200-day simple moving average is $43.43. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.10 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data 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. As a group, research analysts forecast that Disc Medicine will post -4.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its holdings in shares of 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 acquiring an additional 247 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Disc Medicine in the second quarter valued at approximately $129,000. ProShare Advisors LLC bought a new position in shares of Disc Medicine in the first quarter valued at approximately $211,000. Fiduciary Trust Co bought a new position in shares of Disc Medicine in the fourth quarter valued at approximately $234,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after acquiring an additional 1,247 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors.

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.