FY2024 EPS Estimates for Disc Medicine Raised by Analyst

Disc Medicine, Inc. (NASDAQ:IRON - Free Report) - Stock analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for Disc Medicine in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst K. Kluska now forecasts that the company will earn ($4.17) per share for the year, up from their prior estimate of ($4.40). Cantor Fitzgerald 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 - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping analysts' consensus estimates of ($1.04) by $0.15.

IRON has been the topic of a number of other research reports. Jefferies Financial Group started coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price target on the stock. Scotiabank upped their price target on Disc Medicine from $62.00 to $70.00 and gave the company a "sector outperform" rating in a report on Tuesday, November 5th. HC Wainwright lifted their price objective on Disc Medicine from $70.00 to $118.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Wedbush reissued an "outperform" rating and issued a $83.00 target price (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Finally, Morgan Stanley upgraded shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Disc Medicine has an average rating of "Buy" and an average price target of $85.80.

Disc Medicine Trading Down 3.5 %

NASDAQ:IRON traded down $2.11 on Monday, reaching $57.35. 337,658 shares of the stock traded hands, compared to its average volume of 355,110. The company has a market capitalization of $1.71 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 company's fifty day simple moving average is $51.20 and its 200 day simple moving average is $45.20.

Insider Activity

In related 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 transaction of $418,240.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In 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.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock worth $26,000 after acquiring an additional 247 shares in 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 purchasing an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Disc Medicine during the 2nd quarter valued at $129,000. Quest Partners LLC acquired a new stake in shares of Disc Medicine in the 3rd quarter worth $131,000. Finally, Quantbot Technologies LP purchased a new position in Disc Medicine during the 3rd quarter worth $146,000. 83.70% of the stock is currently owned by 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.