Brokers Set Expectations for Disc Medicine FY2024 Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Investment analysts at Lifesci Capital lifted their FY2024 earnings per share estimates for shares of Disc Medicine in a research report issued on Tuesday, November 12th. Lifesci Capital analyst R. Katkhuda now forecasts that the company will post earnings per share of ($3.92) 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.

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.

A number of other research analysts have also weighed in on the stock. Scotiabank raised their price objective on shares of 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 price target on Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company initiated coverage on Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Jefferies Financial Group initiated coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Trading Down 2.0 %

NASDAQ IRON opened at $59.46 on Friday. The company has a market cap of $1.77 billion, a P/E ratio of -14.94 and a beta of 0.60. The company has a fifty day simple moving average of $51.20 and a 200 day simple moving average of $45.09. Disc Medicine has a 12-month low of $25.60 and a 12-month high of $77.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank grew its holdings in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Disc Medicine by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after acquiring an additional 771 shares during the period. SG Americas Securities LLC raised its stake in Disc Medicine by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after acquiring an additional 793 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Disc Medicine by 23.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after acquiring an additional 856 shares during the period. 83.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Disc Medicine news, Director William Richard White sold 7,136 shares of Disc Medicine 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 7,538 shares of company stock valued at $437,875. 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.