Disc Medicine, Inc. (NASDAQ:IRON) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $64.13.

Several research firms have issued reports on IRON. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, May 28th. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Wednesday, July 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 price objective (up previously from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th. Finally, Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock.

Institutional Trading of Disc Medicine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Atlas Venture Life Science Advisors LLC raised its holdings in Disc Medicine by 9.7% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after purchasing an additional 222,223 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares during the period. Perceptive Advisors LLC boosted its position in Disc Medicine by 14.2% during the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after acquiring an additional 127,404 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Disc Medicine by 59.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after acquiring an additional 353,382 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

NASDAQ:IRON opened at $50.35 on Friday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -14.90 and a beta of 0.59. The business has a 50 day moving average of $46.51 and a 200 day moving average of $44.48. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, sell-side analysts anticipate that Disc Medicine will post -4.19 EPS for the current year.

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.