Disc Medicine (NASDAQ:IRON) Upgraded to Overweight at Morgan Stanley

Disc Medicine (NASDAQ:IRON) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, Briefing.com reports. The brokerage currently has a $85.00 price objective on the stock. Morgan Stanley’s price objective indicates a potential upside of 45.92% from the stock’s previous close.

IRON has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $66.00 to $110.00 in a report on Monday. Scotiabank started 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. Finally, Wedbush restated an “outperform” rating and set a $75.00 price target (up previously from $60.00) on shares of Disc Medicine in a research note on Monday. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Buy” and a consensus price target of $79.40.

Disc Medicine Trading Up 23.6 %

IRON stock opened at $58.25 on Tuesday. The company has a market capitalization of $1.73 billion, a PE ratio of -15.87 and a beta of 0.60. The business’s fifty day moving average price is $48.58 and its 200 day moving average price is $42.74. Disc Medicine has a 12-month low of $25.60 and a 12-month 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 for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. Research analysts predict that Disc Medicine will post -4.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the last quarter. SG Americas Securities LLC lifted its stake 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 buying an additional 793 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Disc Medicine by 23.0% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after buying an additional 856 shares during the period. Finally, TD Asset Management Inc raised its holdings in Disc Medicine by 3.7% during the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after purchasing an additional 1,468 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.