FY2024 Earnings Forecast for Disc Medicine Issued By Wedbush

Disc Medicine, Inc. (NASDAQ:IRON) – Research analysts at Wedbush raised their FY2024 EPS estimates for shares of Disc Medicine in a research report issued to clients and investors on Monday, November 4th. Wedbush analyst D. Nierengarten now expects that the company will earn ($3.92) per share for the year, up from their previous estimate of ($3.94). Wedbush has a “Outperform” rating and a $75.00 price target on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.09) per share. Wedbush also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.89) EPS, Q1 2025 earnings at ($0.92) EPS, Q2 2025 earnings at ($0.95) EPS, Q3 2025 earnings at ($0.98) EPS, Q4 2025 earnings at ($1.01) EPS, FY2025 earnings at ($3.86) EPS, FY2026 earnings at ($3.96) EPS, FY2027 earnings at ($1.62) EPS and FY2028 earnings at $6.85 EPS.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.08.

Several other research firms also recently weighed in on IRON. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Tuesday. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $66.00 to $110.00 in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a research note on Tuesday. Wells Fargo & Company assumed coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective on the stock. Finally, Scotiabank lifted their target price on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $80.20.

Disc Medicine Stock Up 0.0 %

IRON opened at $64.80 on Wednesday. The business has a fifty day moving average of $49.06 and a 200 day moving average of $43.19. The stock has a market cap of $1.93 billion, a P/E ratio of -18.01 and a beta of 0.60. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of IRON. Amalgamated Bank increased its stake in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Disc Medicine by 45.7% in the 3rd 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 purchased a new position in Disc Medicine in the 2nd quarter worth $129,000. ProShare Advisors LLC acquired a new stake in Disc Medicine during the 1st quarter worth about $211,000. Finally, SG Americas Securities LLC grew its stake in Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after purchasing an additional 1,247 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William Richard White sold 7,136 shares of the business’s 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 filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 7,538 shares of company stock worth $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.