Disc Medicine, Inc. (NASDAQ:IRON) Receives $64.13 Average Price Target from Analysts

Disc Medicine, Inc. (NASDAQ:IRON) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $64.13.

IRON has been the topic of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Monday, September 16th. 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 objective on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a report on Friday, August 9th.

Disc Medicine Trading Down 1.9 %

NASDAQ:IRON opened at $49.14 on Thursday. The stock has a 50-day moving average price of $47.19 and a 200 day moving average price of $42.30. The stock has a market capitalization of $1.21 billion, a P/E ratio of -14.54 and a beta of 0.59. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data 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. On average, research analysts predict that Disc Medicine will post -4.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IRON. Atlas Venture Life Science Advisors LLC boosted its position in shares of Disc Medicine by 9.7% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock valued at $113,101,000 after buying an additional 222,223 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in 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 acquiring an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C grew its position in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares during the last quarter. Perceptive Advisors LLC increased its stake in Disc Medicine by 14.2% in the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after purchasing an additional 127,404 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after purchasing an additional 353,382 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.