Disc Medicine, Inc. (NASDAQ:IRON) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $62.57.

IRON has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Disc Medicine in a research note on Friday. BMO Capital Markets restated an “outperform” rating and issued a $70.00 target price (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, May 28th. Raymond James lifted their target price on Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a report on Wednesday, July 10th.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $43.09 on Wednesday. The business’s fifty day moving average price is $43.54 and its two-hundred day moving average price is $46.80. The company has a market capitalization of $1.07 billion, a P/E ratio of -12.75 and a beta of 0.57. 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 earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.09). On average, research analysts expect that Disc Medicine will post -4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio grew its holdings in shares of Disc Medicine by 66.7% during the fourth quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $57,000 after buying an additional 400 shares in the last quarter. AJOVista LLC acquired a new stake in Disc Medicine during the fourth quarter valued at $63,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Disc Medicine during the second quarter valued at $129,000. SG Americas Securities LLC boosted its position in Disc Medicine by 44.2% during the second 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 acquired a new stake in Disc Medicine during the first quarter valued at $211,000. 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.