Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Rating of “Moderate Buy” from Analysts

Disc Medicine, Inc. (NASDAQ:IRON) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $62.57.

IRON has been the subject of several recent analyst reports. Raymond James lifted their target price 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. Morgan Stanley reduced their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. 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. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Wednesday, July 10th.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio grew its stake 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 acquiring an additional 400 shares in the last quarter. AJOVista LLC acquired a new position in Disc Medicine during the 4th quarter worth $63,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Disc Medicine in the 4th quarter worth about $161,000. SG Americas Securities LLC raised its stake 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 in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Disc Medicine during the first quarter worth about $211,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Stock Down 1.7 %

Shares of NASDAQ:IRON opened at $45.40 on Friday. The company has a market capitalization of $1.12 billion, a P/E ratio of -13.43 and a beta of 0.57. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The stock’s fifty day simple moving average is $40.37 and its 200-day simple moving average is $49.02.

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, sell-side analysts anticipate that Disc Medicine will post -4.47 earnings per share for the current year.

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.