Disc Medicine (NASDAQ:IRON) Receives New Coverage from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Disc Medicine (NASDAQ:IRON - Free Report) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued a sector outperform rating and a $62.00 price target on the stock.

A number of other research analysts have also commented on IRON. Wedbush reiterated an "outperform" rating and issued a $57.00 price objective on shares of Disc Medicine in a research report on Friday, August 9th. HC Wainwright restated a "buy" rating and set a $70.00 target price on shares of Disc Medicine in a research report on Monday, September 16th. Wells Fargo & Company started coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an "overweight" rating and a $75.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.89.

Disc Medicine Trading Up 0.7 %

Shares of Disc Medicine stock traded up $0.35 during trading on Wednesday, reaching $47.99. The company's stock had a trading volume of 563,686 shares, compared to its average volume of 348,045. The stock has a 50-day moving average price of $48.46 and a two-hundred day moving average price of $41.28. The stock has a market capitalization of $1.19 billion, a P/E ratio of -14.20 and a beta of 0.59. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

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

Institutional Trading of Disc Medicine

A number of large investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock worth $26,000 after purchasing an additional 247 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Disc Medicine during the second quarter worth $129,000. SG Americas Securities LLC raised its holdings in shares of Disc Medicine by 44.2% during the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company's stock worth $183,000 after acquiring an additional 1,247 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Disc Medicine during the first quarter worth $211,000. Finally, Algert Global LLC bought a new stake in Disc Medicine in the 2nd quarter valued at $239,000. Institutional investors own 83.70% of the company's stock.

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.