FY2024 EPS Estimates for Disc Medicine Lifted by Analyst

Disc Medicine, Inc. (NASDAQ:IRON) – Equities research analysts at Leerink Partnrs lifted their FY2024 earnings estimates for shares of Disc Medicine in a report released on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($3.97) for the year, up from their prior estimate of ($4.08). The consensus estimate for Disc Medicine’s current full-year earnings is ($4.15) per share. Leerink Partnrs also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.99) EPS, FY2025 earnings at ($5.75) EPS, FY2026 earnings at ($8.21) EPS, FY2027 earnings at ($9.37) EPS and FY2028 earnings at ($8.22) EPS.

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

A number of other analysts have also commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Scotiabank increased their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and issued a $83.00 price target (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research report on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Disc Medicine has a consensus rating of “Buy” and a consensus target price of $85.80.

Disc Medicine Stock Performance

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

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. increased its holdings in shares of 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. Logos Global Management LP bought a new stake in Disc Medicine during the 2nd quarter valued at $41,690,000. Point72 Asset Management L.P. acquired a new position in Disc Medicine during the second quarter worth $34,318,000. Deerfield Management Company L.P. Series C lifted its stake 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 buying an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $58,788,000 after buying an additional 353,382 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insider Buying and Selling

In related news, Director William Richard White sold 7,136 shares of the 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 document filed with the SEC, which can be accessed through this link. 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.