FY2024 EPS Estimates for Disc Medicine Lifted by Analyst

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

A number of other brokerages also recently commented on IRON. Wedbush reiterated an “outperform” rating and set a $83.00 price target (up from $75.00) on shares of Disc Medicine in a report on Tuesday, November 12th. Scotiabank boosted their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. HC Wainwright lifted their price target on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. 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 target price on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $85.80.

Disc Medicine Trading Up 3.8 %

NASDAQ:IRON opened at $59.55 on Monday. The firm has a 50-day moving average price of $51.51 and a two-hundred day moving average price of $45.61. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The company has a market capitalization of $1.77 billion, a P/E ratio of -14.96 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) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.15.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Atlas Venture Life Science Advisors LLC lifted its holdings in Disc Medicine by 9.7% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock valued at $113,101,000 after acquiring an additional 222,223 shares during the last quarter. Wellington Management Group LLP raised its position in Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after acquiring an additional 83,731 shares in the last quarter. Frazier Life Sciences Management L.P. raised its position in Disc Medicine by 123.5% during 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 acquiring an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C raised its position in shares of Disc Medicine by 53.8% in 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 purchasing an additional 357,730 shares during the period. Finally, Price T Rowe Associates Inc. MD grew 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 worth $58,788,000 after acquiring an additional 353,382 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Disc Medicine

In other news, insider William Jacob Savage sold 9,158 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the transaction, the insider now owns 40,405 shares in the company, valued at approximately $2,409,754.20. This represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Richard White sold 7,136 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. Insiders sold a total of 16,696 shares of company stock worth $984,058 over the last 90 days. 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.