HC Wainwright Predicts Stronger Earnings for Disc Medicine

Disc Medicine, Inc. (NASDAQ:IRON) – Equities research analysts at HC Wainwright lifted their FY2024 EPS estimates for Disc Medicine in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings of ($3.88) per share for the year, up from their prior estimate of ($3.91). HC Wainwright has a “Buy” rating and a $118.00 price target on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.15) per share. HC Wainwright also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.88) EPS, Q1 2025 earnings at ($1.02) EPS, Q2 2025 earnings at ($1.17) EPS, Q3 2025 earnings at ($1.33) EPS, Q4 2025 earnings at ($1.35) EPS, FY2025 earnings at ($4.87) EPS, FY2026 earnings at ($3.94) EPS, FY2027 earnings at ($3.38) EPS and FY2028 earnings at ($1.50) EPS.

IRON has been the subject of a number of other reports. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price (up from $75.00) on shares of Disc Medicine in a research note on Tuesday, November 12th. Scotiabank raised 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. Wells Fargo & Company started coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. 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, the stock has a consensus rating of “Buy” and an average price target of $85.80.

Disc Medicine Stock Performance

Shares of Disc Medicine stock opened at $59.46 on Friday. The business’s 50 day moving average price is $51.20 and its 200 day moving average price is $45.09. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -14.94 and a beta of 0.60. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

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

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was 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 available at this hyperlink. In the last quarter, insiders sold 7,538 shares of company stock valued at $437,875. Company insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new position in Disc Medicine during the 1st quarter valued at about $7,429,000. Price T Rowe Associates Inc. MD lifted its position 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 worth $58,788,000 after purchasing an additional 353,382 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Disc Medicine in the second quarter valued at approximately $34,318,000. Frazier Life Sciences Management L.P. grew its holdings in shares of Disc Medicine by 123.5% in 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 purchasing an additional 969,834 shares in the last quarter. Finally, Blue Owl Capital Holdings LP increased its stake in Disc Medicine by 38.6% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock worth $9,702,000 after buying an additional 60,000 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

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.