Jefferies Financial Group Initiates Coverage on Disc Medicine (NASDAQ:IRON)

Investment analysts at Jefferies Financial Group initiated coverage on shares of Disc Medicine (NASDAQ:IRON) in a report released on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $89.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 93.48% from the company’s current price.

Several other equities analysts also recently commented on IRON. Wells Fargo & Company assumed coverage on Disc Medicine in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Wedbush reiterated an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a research report on Friday, August 9th. Scotiabank assumed coverage on Disc Medicine in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.40.

Disc Medicine Stock Down 2.1 %

NASDAQ:IRON opened at $46.00 on Wednesday. The stock’s 50-day simple moving average is $48.96 and its 200 day simple moving average is $41.96. The firm has a market capitalization of $1.14 billion, a PE ratio of -13.61 and a beta of 0.59. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

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, beating the consensus estimate of ($1.11) by $0.08. On average, analysts anticipate that Disc Medicine will post -4.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

Hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC bought a new stake in Disc Medicine in the first quarter worth approximately $7,429,000. Jennison Associates LLC increased its holdings in Disc Medicine by 349.1% in the first quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock worth $12,031,000 after purchasing an additional 150,209 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 worth $58,788,000 after purchasing an additional 353,382 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Disc Medicine in the second quarter worth approximately $34,318,000. Finally, Frazier Life Sciences Management L.P. increased its holdings in Disc Medicine by 123.5% in 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 in the last quarter. 83.70% of the stock is currently owned by institutional investors.

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.