Disc Medicine (NASDAQ:IRON) Receives “Overweight” Rating from Cantor Fitzgerald

Disc Medicine (NASDAQ:IRON)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a report released on Friday, Benzinga reports. They presently have a $85.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 77.82% from the company’s current price.

Several other analysts have also recently commented on IRON. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a research report on Monday. Wells Fargo & Company assumed coverage on Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $70.00 price target (up from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.13.

Disc Medicine Trading Down 1.6 %

IRON stock traded down $0.78 during mid-day trading on Friday, reaching $47.80. 52,740 shares of the stock traded hands, compared to its average volume of 354,474. The stock’s fifty day moving average is $47.00 and its 200-day moving average is $43.46. The company has a market cap of $1.18 billion, a P/E ratio of -14.14 and a beta of 0.59. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.08. Equities research analysts expect that Disc Medicine will post -4.19 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Disc Medicine by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 89,725 shares of the company’s stock worth $5,183,000 after acquiring an additional 5,525 shares during the period. Jump Financial LLC acquired a new position in shares of Disc Medicine during the 4th quarter worth about $249,000. PNC Financial Services Group Inc. grew its holdings in Disc Medicine by 149.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,000 shares of the company’s stock valued at $578,000 after buying an additional 5,990 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Disc Medicine by 37.5% during the fourth quarter. Franklin Resources Inc. now owns 221,424 shares of the company’s stock worth $12,789,000 after buying an additional 60,403 shares during the last quarter. Finally, Fiduciary Trust Co bought a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $234,000. 83.70% of the stock is owned by 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.