Cantor Fitzgerald Predicts Disc Medicine FY2024 Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Equities researchers at Cantor Fitzgerald lifted their FY2024 earnings per share (EPS) estimates for shares of Disc Medicine in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst K. Kluska now forecasts that the company will post earnings per share of ($4.17) for the year, up from their prior forecast of ($4.40). Cantor Fitzgerald currently has a “Overweight” rating and a $85.00 target price on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.05) per share.

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

IRON has been the topic of several other reports. Wedbush reissued an “outperform” rating and set a $83.00 target price (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective on the stock. Wells Fargo & Company started coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. HC Wainwright increased their price target on Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Scotiabank lifted their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report 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 MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $85.80.

Disc Medicine Trading Down 2.0 %

Disc Medicine stock opened at $59.46 on Monday. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The firm’s fifty day simple moving average is $51.20 and its 200-day simple moving average is $45.20. The company has a market capitalization of $1.77 billion, a P/E ratio of -14.94 and a beta of 0.60.

Insider Activity at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of Disc Medicine 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 SEC, which is available through the SEC website. Insiders sold a total of 7,538 shares of company stock worth $437,875 in the last ninety days. 4.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently added to or reduced their stakes in IRON. Swiss National Bank increased its position in shares of Disc Medicine by 50.6% during the first quarter. Swiss National Bank now owns 23,800 shares of the company’s stock valued at $1,482,000 after purchasing an additional 8,000 shares during the period. ProShare Advisors LLC bought a new position in shares of Disc Medicine during the 1st quarter worth about $211,000. Vanguard Group Inc. boosted its position in shares of Disc Medicine by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 782,751 shares of the company’s stock valued at $48,734,000 after acquiring an additional 18,207 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares during the period. Finally, Janus Henderson Group PLC raised its position in Disc Medicine by 17.7% in the first quarter. Janus Henderson Group PLC now owns 521,773 shares of the company’s stock worth $32,465,000 after purchasing an additional 78,595 shares in the last quarter. Institutional investors and hedge funds own 83.70% 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.