FY2024 Earnings Forecast for Disc Medicine Issued By Wedbush

Disc Medicine, Inc. (NASDAQ:IRON) – Analysts at Wedbush raised their FY2024 EPS estimates for Disc Medicine in a research report issued on Monday, November 4th. Wedbush analyst D. Nierengarten now expects that the company will post earnings of ($3.92) per share for the year, up from their previous forecast of ($3.94). Wedbush currently has a “Outperform” rating and a $75.00 target price on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.09) per share. Wedbush also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.89) EPS, Q1 2025 earnings at ($0.92) EPS, Q2 2025 earnings at ($0.95) EPS, Q3 2025 earnings at ($0.98) EPS, Q4 2025 earnings at ($1.01) EPS, FY2025 earnings at ($3.86) EPS, FY2026 earnings at ($3.96) EPS, FY2027 earnings at ($1.62) EPS and FY2028 earnings at $6.85 EPS.

Several other analysts also recently weighed in on IRON. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank boosted their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $66.00 to $110.00 in a report on Monday. Finally, Wells Fargo & Company assumed coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $80.20.

Disc Medicine Stock Down 2.3 %

Shares of NASDAQ:IRON opened at $63.33 on Wednesday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -17.66 and a beta of 0.60. The firm’s 50-day simple moving average is $49.37 and its 200-day simple moving average is $43.34. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its earnings results 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.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 7,538 shares of company stock valued at $437,875 over the last quarter. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors have recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Disc Medicine in the third quarter valued at approximately $131,000. China Universal Asset Management Co. Ltd. raised its position in shares of Disc Medicine by 96.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock valued at $281,000 after buying an additional 2,813 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Disc Medicine by 19.5% in the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after buying an additional 793 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Disc Medicine in the second quarter valued at approximately $636,000. 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.