Disc Medicine (NASDAQ:IRON) Shares Gap Up – Should You Buy?

Disc Medicine, Inc. (NASDAQ:IRON) shares gapped up before the market opened on Monday . The stock had previously closed at $47.13, but opened at $57.59. Disc Medicine shares last traded at $60.75, with a volume of 350,464 shares.

Analysts Set New Price Targets

IRON has been the topic of several recent analyst reports. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $66.00 to $110.00 in a report on Monday. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $73.10.

Disc Medicine Stock Performance

The business has a fifty day moving average of $48.58 and a 200-day moving average of $42.65. The company has a market capitalization of $1.71 billion, a P/E ratio of -16.55 and a beta of 0.61.

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, beating analysts’ consensus estimates of ($1.11) by $0.08. Sell-side analysts anticipate that Disc Medicine, Inc. will post -4.09 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Disc Medicine by 96.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock valued at $281,000 after purchasing an additional 2,813 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the last quarter. SG Americas Securities LLC lifted its stake in Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after acquiring an additional 793 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Disc Medicine during the 2nd quarter worth $636,000. Finally, Nantahala Capital Management LLC bought a new stake in shares of Disc Medicine in the 2nd quarter worth $6,760,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.