Wedbush Has Strong Outlook for Disc Medicine FY2024 Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Stock analysts at Wedbush upped their FY2024 earnings per share estimates for shares of Disc Medicine in a research note issued on Monday, November 4th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($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 objective 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 posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a research note on Tuesday. Scotiabank lifted their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $80.20.

Disc Medicine Trading Up 11.2 %

Shares of NASDAQ IRON opened at $64.78 on Wednesday. The firm has a market capitalization of $1.93 billion, a PE ratio of -17.65 and a beta of 0.60. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The business has a 50-day moving average price of $48.75 and a two-hundred day moving average price of $42.93.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in IRON. Amalgamated Bank increased its holdings in shares of Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 purchasing an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Disc Medicine in the 2nd quarter valued at $129,000. SG Americas Securities LLC raised its position in Disc Medicine by 44.2% in 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. Finally, ProShare Advisors LLC acquired a new position in Disc Medicine in the first quarter worth $211,000. 83.70% of the stock is owned by institutional investors.

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 on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 7,538 shares of company stock valued at $437,875. Company insiders own 4.24% of the company’s stock.

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.