Disc Medicine (NASDAQ:IRON) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Disc Medicine (NASDAQ:IRON) in a report published on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $89.00 price objective on the stock.

Several other research analysts have also weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Wells Fargo & Company began coverage on Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. Wedbush restated an “outperform” rating and set a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. Scotiabank began coverage on Disc Medicine in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $62.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research note on Monday, September 16th. 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, Disc Medicine presently has an average rating of “Moderate Buy” and an average price target of $66.40.

Disc Medicine Stock Performance

Shares of Disc Medicine stock opened at $46.99 on Wednesday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -13.90 and a beta of 0.59. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The stock has a 50 day moving average of $48.98 and a 200 day moving average of $41.90.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data 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. Analysts forecast that Disc Medicine will post -4.19 EPS for the current year.

Institutional Trading of Disc Medicine

Several hedge funds have recently modified their holdings of IRON. Amalgamated Bank raised its stake in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Disc Medicine in the second quarter valued at $129,000. SG Americas Securities LLC raised its stake in shares of Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after acquiring an additional 1,247 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Disc Medicine in the first quarter valued at $211,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.