Disc Medicine (NASDAQ:IRON) Research Coverage Started at Scotiabank

Scotiabank initiated coverage on shares of Disc Medicine (NASDAQ:IRON) in a report released on Wednesday morning, MarketBeat reports. The firm issued a sector outperform rating and a $62.00 target price on the stock.

Several other brokerages have also recently weighed in on IRON. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Disc Medicine in a research report on Friday, August 9th. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday. Finally, HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research note on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.89.

Disc Medicine Stock Up 0.1 %

NASDAQ:IRON opened at $50.56 on Wednesday. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The firm has a 50 day moving average of $48.76 and a 200 day moving average of $41.46. The stock 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 released 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. As a group, analysts expect that Disc Medicine will post -4.19 EPS for the current year.

Institutional Trading of Disc Medicine

Several institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC bought a new position in Disc Medicine in the 1st quarter valued at $7,429,000. Jennison Associates LLC raised its holdings in Disc Medicine by 349.1% during the first quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock worth $12,031,000 after acquiring an additional 150,209 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 valued at $58,788,000 after buying an additional 353,382 shares during the period. Point72 Asset Management L.P. bought a new stake in Disc Medicine in the second quarter valued at approximately $34,318,000. Finally, Frazier Life Sciences Management L.P. increased its stake in shares of Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after purchasing an additional 969,834 shares during the period. 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.