Wedbush Reaffirms Outperform Rating for Disc Medicine (NASDAQ:IRON)

Disc Medicine (NASDAQ:IRON - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Wedbush in a report issued on Monday, RTT News reports. They currently have a $75.00 price objective on the stock, up from their prior price objective of $60.00. Wedbush's target price would indicate a potential upside of 28.76% from the company's previous close.

A number of other research firms have also recently commented on IRON. Scotiabank initiated coverage on Disc Medicine in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $62.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $70.00 price target on shares of Disc Medicine in a report on Monday, October 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 price target on shares of Disc Medicine in a report on Tuesday, October 15th. Raymond James raised Disc Medicine from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $66.00 to $110.00 in a report on Monday. Finally, Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They set an "overweight" rating and a $75.00 price target for the company. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $74.90.

Disc Medicine Stock Up 23.6 %

Shares of NASDAQ IRON traded up $11.12 during midday trading on Monday, hitting $58.25. 2,085,356 shares of the company's stock were exchanged, compared to its average volume of 352,495. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The company's 50 day moving average price is $48.58 and its 200 day moving average price is $42.74. The firm has a market capitalization of $1.73 billion, a PE ratio of -15.87 and a beta of 0.61.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released 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, equities research analysts anticipate that Disc Medicine will post -4.09 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently made changes to their positions in IRON. Frazier Life Sciences Management L.P. boosted its position 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 valued at $79,090,000 after purchasing an additional 969,834 shares in the last quarter. Logos Global Management LP bought a new stake in shares of Disc Medicine during the 2nd quarter valued at about $41,690,000. Point72 Asset Management L.P. bought a new position in Disc Medicine in the second quarter worth approximately $34,318,000. Deerfield Management Company L.P. Series C boosted its holdings in Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company's stock worth $46,119,000 after acquiring an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company's stock worth $58,788,000 after acquiring an additional 353,382 shares in the last quarter. Institutional investors and hedge funds 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.

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