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

Disc Medicine, Inc. (NASDAQ:IRON) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $64.13.

Several analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Friday, September 20th. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Disc Medicine in a research report on Friday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $70.00 target price (up previously from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th.

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $51.20 on Thursday. The firm’s 50-day moving average is $47.46 and its two-hundred day moving average is $42.30. The company has a market capitalization of $1.27 billion, a PE ratio of -15.15 and a beta of 0.59. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. On average, analysts forecast that Disc Medicine will post -4.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently bought and sold shares of the stock. Atlas Venture Life Science Advisors LLC raised its stake in Disc Medicine by 9.7% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after purchasing an additional 222,223 shares during the period. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares during the last quarter. Deerfield Management Company L.P. Series C raised its position in shares of Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares during the period. Perceptive Advisors LLC boosted its holdings in Disc Medicine by 14.2% in the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after acquiring an additional 127,404 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Disc Medicine by 59.8% during the first 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 during the period. 83.70% of the stock is currently 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.