Brokers Offer Predictions for Disc Medicine FY2024 Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Analysts at Cantor Fitzgerald raised their FY2024 earnings estimates for shares of Disc Medicine in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst K. Kluska now forecasts that the company will post earnings of ($4.17) per share for the year, up from their previous estimate 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 issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15.

A number of other equities analysts have also commented on the company. HC Wainwright boosted their price objective on Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company began coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Disc Medicine has an average rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Price Performance

Shares of IRON opened at $59.46 on Monday. The business’s 50 day simple moving average is $51.20 and its 200-day simple moving average is $45.20. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The company has a market capitalization of $1.77 billion, a P/E ratio of -14.94 and a beta of 0.60.

Insider Activity at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction on Monday, November 4th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 7,538 shares of company stock worth $437,875 over the last ninety days. Company insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its stake in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 valued at $54,000 after purchasing an additional 337 shares during the period. The Manufacturers Life Insurance Company increased its stake in Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after purchasing an additional 771 shares in the last quarter. SG Americas Securities LLC raised its holdings in Disc Medicine by 19.5% in the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after purchasing an additional 793 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Disc Medicine by 3.7% during the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after purchasing an additional 1,468 shares in the last quarter. Institutional investors 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.