Leerink Partnrs Predicts Stronger Earnings for Disc Medicine

Disc Medicine, Inc. (NASDAQ:IRON) – Leerink Partnrs increased their FY2024 earnings estimates for Disc Medicine in a report issued on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings of ($3.97) per share for the year, up from their previous 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.

Several other equities analysts have also recently weighed in on IRON. Jefferies Financial Group started coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. HC Wainwright upped their price target on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and set a $83.00 target price (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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Trading Down 2.0 %

Shares of IRON stock 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 12-month low of $25.60 and a 12-month high of $77.60. The stock’s 50-day moving average price is $51.20 and its 200-day moving average price is $45.09.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Disc Medicine by 17.6% in the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after purchasing an additional 70,983 shares during the period. Barclays PLC increased its stake in Disc Medicine by 123.7% in the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock worth $1,972,000 after buying an additional 22,202 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Disc Medicine during the 3rd quarter valued at about $445,000. Wellington Management Group LLP lifted its holdings in Disc Medicine by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after buying an additional 83,731 shares in the last quarter. Finally, State Street Corp boosted its position in Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after buying an additional 235,115 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of the company’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 transaction of $418,240.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is currently owned by insiders.

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.