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

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $64.13.

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Friday, September 20th. Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Disc Medicine in a research note on Friday, August 9th. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 price target (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Monday, September 16th.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $47.87 on Thursday. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The company has a 50 day simple moving average of $47.00 and a two-hundred day simple moving average of $42.77. The company has a market capitalization of $1.18 billion, a PE ratio of -14.16 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last announced its earnings results 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. Research analysts predict that Disc Medicine will post -4.19 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank increased its stake in Disc Medicine by 76.9% in the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Disc Medicine in the second quarter worth $129,000. SG Americas Securities LLC grew its stake in 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 purchasing an additional 1,247 shares during the period. ProShare Advisors LLC bought a new position in Disc Medicine in the 1st quarter valued at $211,000. Finally, Fiduciary Trust Co bought a new stake in shares of Disc Medicine during the 4th quarter worth $234,000. Institutional investors 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.