Disc Medicine, Inc. (NASDAQ:IRON) Receives $63.89 Average PT from Analysts

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $66.40.

A number of equities research analysts recently commented on IRON shares. Wells Fargo & Company began 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 for the company. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. Jefferies Financial Group began coverage on Disc Medicine in a research report on Wednesday. They issued a “buy” rating and a $89.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a report on Monday, September 16th. Finally, Scotiabank assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 target price on the stock.

Disc Medicine Price Performance

Disc Medicine stock opened at $46.99 on Monday. The business has a 50 day simple moving average of $48.98 and a 200-day simple moving average of $41.90. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The stock has a market capitalization of $1.16 billion, a PE ratio of -13.92 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, equities research analysts anticipate that Disc Medicine will post -4.19 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds have recently bought and sold shares of IRON. Frazier Life Sciences Management L.P. lifted its position in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after acquiring an additional 969,834 shares in the last quarter. Logos Global Management LP purchased a new position in Disc Medicine in the 2nd quarter valued at about $41,690,000. Point72 Asset Management L.P. acquired a new stake in shares of Disc Medicine during the 2nd quarter worth about $34,318,000. Deerfield Management Company L.P. Series C grew its holdings in shares of Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after buying an additional 353,382 shares during the last quarter. 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.