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

Cantor Fitzgerald restated their overweight rating on shares of Disc Medicine (NASDAQ:IRON) in a research note published on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a $85.00 target price on the stock.

Several other analysts have also recently issued reports on the stock. Wedbush reissued an outperform rating and set a $57.00 price target on shares of Disc Medicine in a research report on Friday, August 9th. BMO Capital Markets reiterated an outperform rating and set a $70.00 target price (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. HC Wainwright restated a buy rating and issued a $70.00 price target on shares of Disc Medicine in a research note on Monday, September 16th. Finally, Wells Fargo & Company began coverage on Disc Medicine in a research report on Thursday, August 22nd. They set an overweight rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $64.13.

Disc Medicine Price Performance

NASDAQ IRON opened at $48.11 on Friday. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The stock has a market capitalization of $1.19 billion, a P/E ratio of -14.23 and a beta of 0.59. The firm’s 50-day moving average is $47.05 and its two-hundred day moving average is $42.98.

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 analysts’ consensus estimates of ($1.11) by $0.08. As a group, analysts anticipate that Disc Medicine will post -4.19 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of IRON. Amalgamated Bank increased its holdings 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 buying an additional 247 shares during the last quarter. Bleakley Financial Group LLC boosted its position 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 acquiring an additional 856 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Disc Medicine by 44.2% in the 2nd 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 during the last quarter. TD Asset Management Inc raised its position in shares of Disc Medicine by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after acquiring an additional 1,468 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Disc Medicine by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 4,641 shares of the company’s stock worth $289,000 after purchasing an additional 1,848 shares during the last quarter. 83.70% of the stock is currently 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.