Leerink Partnrs Lifts Earnings Estimates for Disc Medicine

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

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

A number of other research analysts also recently commented on the stock. HC Wainwright upped their price objective on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target on the stock. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $85.80.

Disc Medicine Trading Down 3.8 %

NASDAQ IRON opened at $60.67 on Friday. The business’s 50-day moving average price is $51.02 and its 200 day moving average price is $44.75. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRON. Amalgamated Bank boosted its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 acquired a new position in shares of Disc Medicine in the second quarter worth about $129,000. Quest Partners LLC purchased a new position in Disc Medicine in the third quarter valued at about $131,000. Finally, Quantbot Technologies LP acquired a new stake in Disc Medicine during the 3rd quarter valued at approximately $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Insider Activity

In other 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 legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is currently owned by corporate insiders.

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.