HC Wainwright Weighs in on Disc Medicine FY2029 Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Stock analysts at HC Wainwright issued their FY2029 earnings estimates for shares of Disc Medicine in a research note issued on Friday, February 28th. HC Wainwright analyst D. Tsao anticipates that the company will earn $6.36 per share for the year. HC Wainwright has a “Buy” rating and a $118.00 price target on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.07) per share.

Several other equities research analysts also recently weighed in on the company. Scotiabank raised their price target on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday. TD Cowen initiated coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a “buy” rating on the stock. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $89.10.

Disc Medicine Stock Down 3.3 %

NASDAQ IRON opened at $54.33 on Monday. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The company has a 50 day moving average price of $57.89 and a 200 day moving average price of $55.70. The firm has a market cap of $1.62 billion, a PE ratio of -13.65 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 5,574 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $304,228.92. Following the sale, the chief executive officer now owns 154,828 shares in the company, valued at $8,450,512.24. This represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jean M. Franchi sold 3,136 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the completion of the sale, the chief financial officer now directly owns 69,530 shares in the company, valued at approximately $3,794,947.40. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,080 shares of company stock worth $4,523,520. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC grew its position in shares of Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after acquiring an additional 503 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $40,000. Tower Research Capital LLC TRC increased its holdings in Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Disc Medicine in the third quarter valued at about $131,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.