Brokerages Set Disc Medicine, Inc. (NASDAQ:IRON) Price Target at $64.13

Disc Medicine, Inc. (NASDAQ:IRON) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $64.13.

A number of equities research analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a report on Wednesday, July 10th. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, May 28th. Finally, Raymond James boosted their price objective on Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, May 10th.

Disc Medicine Trading Up 1.9 %

NASDAQ IRON opened at $50.20 on Friday. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60. The company has a fifty day simple moving average of $46.40 and a two-hundred day simple moving average of $44.74. The stock has a market cap of $1.24 billion, a P/E ratio of -14.85 and a beta of 0.57.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, sell-side analysts forecast that Disc Medicine will post -4.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC raised its stake in Disc Medicine by 14.2% in the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after purchasing an additional 127,404 shares during the last quarter. Frazier Life Sciences Management L.P. raised its position in shares of Disc Medicine by 19.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after buying an additional 130,000 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Disc Medicine during the first quarter worth about $7,429,000. Jennison Associates LLC grew its stake in Disc Medicine by 349.1% during 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. Finally, Price T Rowe Associates Inc. MD grew its stake in Disc Medicine by 59.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares in the last quarter. 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.