Lifesci Capital Expects Stronger Earnings for Disc Medicine

Disc Medicine, Inc. (NASDAQ:IRON) – Equities researchers at Lifesci Capital raised their FY2024 earnings estimates for shares of Disc Medicine in a research report issued to clients and investors on Tuesday, November 12th. Lifesci Capital analyst R. Katkhuda now anticipates that the company will earn ($3.92) per share for the year, up from their previous forecast of ($4.33). The consensus estimate for Disc Medicine’s current full-year earnings is ($4.15) per share. Lifesci Capital also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.94) EPS.

Other research analysts have also issued reports about the company. Scotiabank upped their target price 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. HC Wainwright lifted their target price on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Wells Fargo & Company started coverage on Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Stock Down 2.0 %

Disc Medicine stock opened at $59.46 on Friday. The business has a 50 day moving average price of $51.20 and a two-hundred day moving average price of $44.97. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The stock has a market cap of $1.77 billion, a price-to-earnings 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) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15.

Insiders Place Their Bets

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 shares were sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 7,538 shares of company stock valued at $437,875. 4.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently modified their holdings of the stock. Amalgamated Bank raised its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Disc Medicine during the second quarter valued at $129,000. Quest Partners LLC bought a new position in Disc Medicine in the third quarter valued at about $131,000. Finally, Quantbot Technologies LP acquired a new stake in Disc Medicine in the third quarter worth about $146,000. 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.