FY2024 EPS Estimates for Disc Medicine Boosted by Analyst

Disc Medicine, Inc. (NASDAQ:IRON) – HC Wainwright increased their FY2024 earnings per share (EPS) estimates for Disc Medicine in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst D. Tsao now expects that the company will earn ($3.88) per share for the year, up from their previous forecast of ($3.91). HC Wainwright has a “Buy” rating and a $118.00 price target on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.15) per share. HC Wainwright also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.88) EPS, Q1 2025 earnings at ($1.02) EPS, Q2 2025 earnings at ($1.17) EPS, Q3 2025 earnings at ($1.33) EPS, Q4 2025 earnings at ($1.35) EPS, FY2025 earnings at ($4.87) EPS, FY2026 earnings at ($3.94) EPS, FY2027 earnings at ($3.38) EPS and FY2028 earnings at ($1.50) EPS.

A number of other research analysts have also recently issued reports on IRON. Scotiabank lifted their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Nine investment 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 company presently has an average rating of “Buy” and an average target price of $85.80.

Disc Medicine Stock Performance

IRON stock opened at $59.46 on Friday. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -14.94 and a beta of 0.60. The firm has a 50 day moving average price of $51.20 and a 200-day moving average price of $44.97. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in the business. Amalgamated Bank increased its holdings in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares during the period. Quest Partners LLC bought a new position in Disc Medicine in the 3rd quarter worth $131,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Disc Medicine during the second quarter valued at about $129,000. Finally, Quantbot Technologies LP purchased a new stake in Disc Medicine in the third quarter worth about $146,000. Institutional investors own 83.70% of the company’s stock.

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 7,538 shares of company stock valued at $437,875 over the last 90 days. Company insiders own 4.24% 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.