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

Equities researchers at Jefferies Financial Group initiated coverage on shares of Disc Medicine (NASDAQ:IRON) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $89.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 93.48% from the company’s previous close.

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

Disc Medicine Stock Performance

Shares of Disc Medicine stock opened at $46.00 on Wednesday. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The stock has a 50 day moving average price of $48.96 and a two-hundred day moving average price of $41.96. The stock has a market capitalization of $1.14 billion, a PE ratio of -13.61 and a beta of 0.59.

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 the consensus estimate of ($1.11) by $0.08. Research analysts forecast that Disc Medicine will post -4.19 EPS for the current year.

Institutional Trading of Disc Medicine

Hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in shares of Disc Medicine in the first quarter valued at $7,429,000. Jennison Associates LLC raised its stake in shares of Disc Medicine by 349.1% in the first quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock valued at $12,031,000 after buying an additional 150,209 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of 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 shares of Disc Medicine in the second quarter valued at $34,318,000. Finally, Frazier Life Sciences Management L.P. raised its stake in shares of 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 valued at $79,090,000 after buying an additional 969,834 shares during the period. 83.70% of the stock is currently owned by 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.