Cantor Fitzgerald Reiterates “Overweight” Rating for Disc Medicine (NASDAQ:IRON)

Cantor Fitzgerald reiterated their overweight rating on shares of Disc Medicine (NASDAQ:IRON) in a research note published on Tuesday, Benzinga reports. They currently have a $85.00 price target on the stock.

IRON has been the topic of several other reports. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Disc Medicine in a research note on Friday, August 9th. BMO Capital Markets reissued an “outperform” rating and set a $70.00 price target (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a report on Monday, September 16th. Finally, Wells Fargo & Company assumed coverage on Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price for the company. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.89.

Disc Medicine Stock Performance

Shares of IRON opened at $50.56 on Tuesday. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm has a 50-day simple moving average of $48.76 and a 200-day simple moving average of $41.46. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -14.96 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data 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. Equities research analysts forecast that Disc Medicine will post -4.19 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. Amalgamated Bank lifted its holdings in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares in the last quarter. SG Americas Securities LLC lifted its stake in Disc Medicine by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after buying an additional 793 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Disc Medicine by 23.0% during the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after buying an additional 856 shares during the last quarter. TD Asset Management Inc increased its position in Disc Medicine by 3.7% during the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after buying an additional 1,468 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Disc Medicine in the second quarter worth $129,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.