Disc Medicine, Inc. (NASDAQ:IRON) Receives $62.57 Average Price Target from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $62.57.

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, May 28th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Wednesday, July 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 price objective (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Raymond James upped their price objective on shares of Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Disc Medicine in a research report on Friday.

Disc Medicine Trading Up 0.6 %

NASDAQ IRON opened at $43.09 on Wednesday. The company’s 50-day moving average price is $43.54 and its 200-day moving average price is $46.80. The stock has a market cap of $1.07 billion, a PE ratio of -12.75 and a beta of 0.57. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). As a group, sell-side analysts forecast that Disc Medicine will post -4.47 earnings per share for the current year.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of IRON. Strs Ohio raised its position in shares of Disc Medicine by 66.7% in the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $57,000 after purchasing an additional 400 shares during the last quarter. AJOVista LLC purchased a new position in shares of Disc Medicine in the 4th quarter valued at approximately $63,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine in the 2nd quarter valued at approximately $129,000. SG Americas Securities LLC raised its position in shares of 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 last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Disc Medicine in the 1st quarter valued at approximately $211,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

About Disc Medicine

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.