Disc Medicine (NASDAQ:IRON) Earns Buy Rating from Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group started coverage on shares of Disc Medicine (NASDAQ:IRON) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $89.00 price target on the stock. Jefferies Financial Group’s target price points to a potential upside of 74.78% from the company’s current price.

Other analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th. Wells Fargo & Company began coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective for 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 Tuesday, October 15th. HC Wainwright reiterated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a report on Monday, September 16th. Finally, Scotiabank started coverage on shares of Disc Medicine in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 price target for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.40.

Disc Medicine Trading Up 0.3 %

NASDAQ:IRON opened at $50.92 on Wednesday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The company has a market cap of $1.26 billion, a P/E ratio of -15.07 and a beta of 0.59. The company’s 50-day moving average price is $48.88 and its 200-day moving average price is $41.75.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.08. On average, analysts expect that Disc Medicine will post -4.19 earnings per share for the current year.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new stake in shares of Disc Medicine in the first quarter valued at $7,429,000. Jennison Associates LLC grew its position in Disc Medicine by 349.1% in the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock valued at $12,031,000 after acquiring an additional 150,209 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after purchasing an additional 353,382 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Disc Medicine during the second quarter worth about $34,318,000. Finally, Frazier Life Sciences Management L.P. boosted its stake 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 purchasing an additional 969,834 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.