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

Disc Medicine (NASDAQ:IRON)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They presently have a $85.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 76.68% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets restated an “outperform” rating and issued a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research note on Monday, September 16th. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Disc Medicine in a report on Friday, August 9th. Finally, Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $64.13.

Disc Medicine Stock Performance

Shares of IRON stock opened at $48.11 on Friday. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The firm has a market capitalization of $1.19 billion, a PE ratio of -14.23 and a beta of 0.59. The stock has a fifty day moving average of $47.05 and a two-hundred day moving average of $43.32.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank lifted its position in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Bleakley Financial Group LLC raised its stake 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 purchasing an additional 856 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after purchasing an additional 1,247 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Disc Medicine by 3.7% in 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 during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Disc Medicine by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 4,641 shares of the company’s stock valued at $289,000 after buying an additional 1,848 shares in the last quarter. 83.70% of the stock is currently 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.