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

Disc Medicine (NASDAQ:IRON)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research note issued on Wednesday, Benzinga reports. They presently have a $85.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 166.96% from the stock’s previous close.

A number of other research firms have also issued reports on IRON. BMO Capital Markets reduced their price objective on Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. Morgan Stanley reduced their price target on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a report on Friday, May 10th. Wedbush reissued an “outperform” rating and set a $43.00 target price (down from $84.00) on shares of Disc Medicine in a research note on Monday, April 1st. Finally, Raymond James lifted their price target on Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Disc Medicine currently has an average rating of “Moderate Buy” and an average target price of $57.71.

Disc Medicine Stock Performance

Disc Medicine stock opened at $31.84 on Wednesday. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The firm’s 50-day moving average is $41.93 and its 200-day moving average is $53.43. The company has a market cap of $785.81 million, a P/E ratio of -9.42 and a beta of 0.44.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22). As a group, sell-side analysts predict that Disc Medicine will post -4.64 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In related news, Director William Richard White sold 2,560 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total value of $81,408.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Disc Medicine in the third quarter worth approximately $28,000. AJOVista LLC acquired a new stake in Disc Medicine in the fourth quarter valued at approximately $63,000. China Universal Asset Management Co. Ltd. bought a new stake in Disc Medicine in the fourth quarter worth approximately $161,000. ProShare Advisors LLC acquired a new position in shares of Disc Medicine during the 1st quarter worth $211,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Disc Medicine during the 4th quarter valued at $215,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.