Analysts Offer Predictions for Disc Medicine FY2024 Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for Disc Medicine in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst K. Kluska now expects that the company will earn ($4.17) per share for the year, up from their prior forecast of ($4.40). Cantor Fitzgerald currently has a “Overweight” rating and a $85.00 target price on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.05) per share.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15.

Other research analysts have also recently issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a report on Tuesday, November 12th. Wells Fargo & Company assumed coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target for the company. Scotiabank upped their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Price Performance

IRON opened at $57.35 on Monday. The firm has a fifty day moving average price of $51.31 and a 200 day moving average price of $45.40. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The stock has a market cap of $1.71 billion, a P/E ratio of -14.41 and a beta of 0.60.

Insider Activity

In other Disc Medicine news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 7,538 shares of company stock worth $437,875 over the last quarter. 4.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently modified their holdings of the business. Swiss National Bank grew its stake in Disc Medicine by 50.6% during the 1st quarter. Swiss National Bank now owns 23,800 shares of the company’s stock valued at $1,482,000 after acquiring an additional 8,000 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Disc Medicine in the first quarter valued at approximately $211,000. Vanguard Group Inc. lifted its position in Disc Medicine by 2.4% during the first quarter. Vanguard Group Inc. now owns 782,751 shares of the company’s stock worth $48,734,000 after buying an additional 18,207 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after buying an additional 353,382 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Disc Medicine by 17.7% during the first quarter. Janus Henderson Group PLC now owns 521,773 shares of the company’s stock worth $32,465,000 after buying an additional 78,595 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.