Disc Medicine (NASDAQ:IRON) Earns "Overweight" Rating from Cantor Fitzgerald

Disc Medicine (NASDAQ:IRON - Get Free Report)'s stock had its "overweight" rating reiterated by Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $85.00 target price on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 78.42% from the company's previous close.

Several other analysts also recently issued reports on IRON. Wedbush reissued an "outperform" rating and set a $57.00 target price on shares of Disc Medicine in a research note on Friday, August 9th. HC Wainwright reissued a "buy" rating and set a $70.00 target price on shares of Disc Medicine in a research note on Monday, September 16th. BMO Capital Markets reissued an "outperform" rating and set a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Finally, Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an "overweight" rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Disc Medicine has an average rating of "Moderate Buy" and a consensus target price of $64.13.

Disc Medicine Stock Performance

Shares of NASDAQ IRON traded down $0.35 during trading on Tuesday, hitting $47.64. The company had a trading volume of 254,091 shares, compared to its average volume of 346,962. The company has a market cap of $1.18 billion, a P/E ratio of -14.09 and a beta of 0.59. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The business's 50-day moving average is $48.32 and its 200 day moving average is $41.24.

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

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently modified their holdings of IRON. Amalgamated Bank boosted its holdings in Disc Medicine by 76.9% in the second 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 Disc Medicine in the second quarter worth $129,000. SG Americas Securities LLC boosted its holdings in Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company's stock worth $183,000 after purchasing an additional 1,247 shares in the last quarter. ProShare Advisors LLC bought a new stake in Disc Medicine in the first quarter worth $211,000. Finally, Algert Global LLC bought a new stake in Disc Medicine in the second quarter worth $239,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.