Disc Medicine (NASDAQ:IRON) Stock Rating Reaffirmed by HC Wainwright

Disc Medicine (NASDAQ:IRON)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $70.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 46.47% from the stock’s previous close.

Several other research analysts have also commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday, May 28th. Wells Fargo & Company started coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Disc Medicine in a research report on Friday, August 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 price objective (up from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.13.

Disc Medicine Stock Performance

NASDAQ IRON opened at $47.79 on Monday. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The company has a 50-day simple moving average of $46.95 and a 200-day simple moving average of $43.77. The firm has a market capitalization of $1.18 billion, a PE ratio of -14.14 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.08. Equities analysts forecast that Disc Medicine will post -4.19 earnings per share for the current year.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank raised its position in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Disc Medicine during the 2nd quarter worth about $129,000. ProShare Advisors LLC bought a new stake in shares of Disc Medicine during the 1st quarter worth about $211,000. Fiduciary Trust Co bought a new stake in shares of Disc Medicine during the 4th quarter worth about $234,000. Finally, SG Americas Securities LLC raised 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 worth $183,000 after purchasing 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.