Brokers Set Expectations for Disc Medicine FY2024 Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Equities researchers at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for shares of Disc Medicine in a report released on Wednesday, November 13th. HC Wainwright analyst D. Tsao now expects that the company will post earnings per share of ($3.88) for the year, up from their prior 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.

Several other analysts also recently commented on the stock. Wells Fargo & Company started coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective on the stock. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank raised their target price on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Finally, Wedbush reiterated an “outperform” rating and set a $83.00 price target (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $85.80.

Disc Medicine Trading Down 2.0 %

Shares of NASDAQ:IRON opened at $59.46 on Friday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The company’s 50 day moving average is $51.20 and its 200 day moving average is $45.09. The company has a market cap of $1.77 billion, a PE ratio of -14.94 and a beta of 0.60.

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

Insiders Place Their Bets

In related news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is owned by corporate insiders.

Institutional Trading of Disc Medicine

Institutional investors have recently modified their holdings of the stock. Atlas Venture Life Science Advisors LLC raised its position in shares of Disc Medicine by 9.7% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after purchasing an additional 222,223 shares during the last quarter. Wellington Management Group LLP increased its stake in Disc Medicine by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after buying an additional 83,731 shares in the last quarter. Frazier Life Sciences Management L.P. increased its stake in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position 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 acquiring an additional 353,382 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.