Cantor Fitzgerald Reaffirms Overweight Rating for Disc Medicine (NASDAQ:IRON)

Disc Medicine (NASDAQ:IRON)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Friday, Benzinga reports. They currently have a $85.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 76.68% from the company’s current price.

Several other research firms also recently commented on IRON. 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 target price for the company. Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Disc Medicine in a research report on Friday, August 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.13.

Disc Medicine Stock Down 1.0 %

Disc Medicine stock 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 company’s fifty day simple moving average is $47.05 and its 200-day simple moving average is $43.32. The stock has a market cap of $1.19 billion, a P/E ratio of -14.23 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last issued its earnings results 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. On average, equities research analysts expect that Disc Medicine will post -4.19 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Several hedge funds have recently added to or reduced their stakes in IRON. Charles Schwab Investment Management Inc. increased its position in Disc Medicine by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 89,725 shares of the company’s stock worth $5,183,000 after buying an additional 5,525 shares during the period. Jump Financial LLC bought a new position in Disc Medicine during the fourth quarter worth $249,000. PNC Financial Services Group Inc. increased its position in Disc Medicine by 149.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,000 shares of the company’s stock worth $578,000 after acquiring an additional 5,990 shares during the period. Franklin Resources Inc. boosted its holdings in Disc Medicine by 37.5% in the 4th quarter. Franklin Resources Inc. now owns 221,424 shares of the company’s stock valued at $12,789,000 after purchasing an additional 60,403 shares during the period. Finally, Fiduciary Trust Co acquired a new stake in Disc Medicine in the 4th quarter worth $234,000. Institutional investors own 83.70% of the company’s stock.

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.