Disc Medicine (NASDAQ:IRON) Receives “Buy” Rating from HC Wainwright

Disc Medicine (NASDAQ:IRON)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $70.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 19.13% from the stock’s current price.

IRON has been the topic of several other research reports. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $66.00 to $110.00 in a report on Monday. Wells Fargo & Company initiated coverage on Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective on the stock. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price objective (up previously from $60.00) on shares of Disc Medicine in a research report on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $79.40.

Disc Medicine Trading Up 0.9 %

Disc Medicine stock traded up $0.51 on Tuesday, hitting $58.76. 31,300 shares of the stock traded hands, compared to its average volume of 350,994. The firm has a market cap of $1.75 billion, a P/E ratio of -16.27 and a beta of 0.60. The business’s fifty day simple moving average is $48.58 and its 200 day simple moving average is $42.74. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. As a group, analysts predict that Disc Medicine will post -4.09 earnings per share for the current year.

Institutional Investors Weigh In On Disc Medicine

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