Disc Medicine (NASDAQ:IRON) Receives Overweight Rating from Cantor Fitzgerald

Disc Medicine (NASDAQ:IRON)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They presently have a $85.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 77.12% from the stock’s previous close.

A number of other research firms also recently issued reports on IRON. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 price objective (up previously from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Disc Medicine in a research report on Friday, August 9th. Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. 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 research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.89.

Disc Medicine Stock Performance

Shares of NASDAQ IRON opened at $47.99 on Tuesday. The company has a market cap of $1.19 billion, a P/E ratio of -14.20 and a beta of 0.59. The firm’s fifty day moving average is $48.46 and its two-hundred day moving average is $41.28. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.08. As a group, analysts forecast that Disc Medicine will post -4.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the period. SG Americas Securities LLC boosted its position in shares of Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after buying an additional 793 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Disc Medicine by 23.0% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after buying an additional 856 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Disc Medicine by 3.7% in the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after buying an additional 1,468 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Disc Medicine during the 2nd quarter worth approximately $129,000. Hedge funds and other 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.