FY2024 EPS Estimate for Disc Medicine Raised by Analyst

Disc Medicine, Inc. (NASDAQ:IRON) – Investment analysts at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for Disc Medicine in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst K. Kluska now forecasts that the company will post earnings per share of ($4.17) for the year, up from their prior estimate of ($4.40). Cantor Fitzgerald currently has a “Overweight” rating and a $85.00 price objective on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.05) per share.

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

IRON has been the subject of several other reports. 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 objective for the company. Wedbush reiterated an “outperform” rating and issued a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research report on Tuesday, November 5th. Wells Fargo & Company initiated coverage on Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target for the company. Finally, Scotiabank upped their price target on 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 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.com, the stock currently has a consensus rating of “Buy” and an average price target of $85.80.

Disc Medicine Trading Up 3.8 %

Shares of NASDAQ:IRON opened at $59.55 on Monday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -14.96 and a beta of 0.60. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The business has a 50-day moving average price of $51.51 and a two-hundred day moving average price of $45.61.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction 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 can be accessed through this link. Also, insider William Jacob Savage sold 9,158 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now directly owns 40,405 shares in the company, valued at approximately $2,409,754.20. This trade represents a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,696 shares of company stock worth $984,058. Company insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its stake in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 worth $54,000 after acquiring an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Disc Medicine during the second quarter worth about $129,000. Quest Partners LLC bought a new stake in Disc Medicine in the third quarter worth approximately $131,000. Finally, Quantbot Technologies LP bought a new stake in Disc Medicine in the third quarter worth approximately $146,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.