Wedbush Forecasts Disc Medicine's Q4 Earnings (NASDAQ:IRON)

Disc Medicine, Inc. (NASDAQ:IRON - Free Report) - Wedbush lowered their Q4 2024 earnings estimates for Disc Medicine in a note issued to investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($0.94) for the quarter, down from their prior estimate of ($0.89). Wedbush currently has a "Outperform" rating and a $83.00 target price on the stock. The consensus estimate for Disc Medicine's current full-year earnings is ($4.15) per share. Wedbush also issued estimates for Disc Medicine's Q1 2025 earnings at ($0.98) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($1.04) EPS, Q4 2025 earnings at ($1.08) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($4.19) EPS and FY2027 earnings at $2.20 EPS.

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

Other analysts have also issued reports about the stock. HC Wainwright increased their price target on shares of Disc Medicine from $70.00 to $118.00 and gave the company a "buy" rating in a research report on Wednesday. Raymond James upgraded Disc Medicine from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $66.00 to $110.00 in a report on Monday, November 4th. Jefferies Financial Group started coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a "buy" rating and a $89.00 price objective on the stock. 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. Finally, Scotiabank boosted their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a "sector outperform" rating 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $85.80.

Disc Medicine Trading Down 2.0 %

Shares of NASDAQ:IRON traded down $1.21 during midday trading on Friday, hitting $59.46. 270,748 shares of the stock were exchanged, compared to its average volume of 355,189. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The company has a 50 day moving average price of $51.20 and a 200-day moving average price of $44.97. The stock has a market cap of $1.77 billion, a P/E ratio of -14.94 and a beta of 0.60.

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 dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 7,538 shares of company stock valued at $437,875. Insiders own 4.24% of the company's stock.

Hedge Funds Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its position in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock worth $26,000 after purchasing 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% in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine in the 2nd quarter valued at $129,000. Quest Partners LLC acquired a new position in shares of Disc Medicine during the 3rd quarter valued at $131,000. Finally, Quantbot Technologies LP purchased a new stake in Disc Medicine during the 3rd quarter worth $146,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.