Leerink Partnrs Predicts Stronger Earnings for Disc Medicine

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

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Tuesday, November 5th. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $66.00 to $110.00 in a research note on Monday, November 4th. HC Wainwright lifted their price objective on shares of Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $85.80.

Disc Medicine Price Performance

Shares of IRON stock opened at $59.46 on Friday. The company has a fifty day moving average price of $51.20 and a two-hundred day moving average price of $44.97. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The stock has a market cap of $1.77 billion, a P/E ratio of -14.94 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last released its earnings results 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Disc Medicine by 45.7% during the 3rd 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. The Manufacturers Life Insurance Company increased its stake in Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after acquiring an additional 771 shares during the last quarter. SG Americas Securities LLC raised its position in Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after purchasing an additional 793 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Disc Medicine by 23.0% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after purchasing an additional 856 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insiders Place Their Bets

In other news, Director William Richard White sold 7,136 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 7,538 shares of company stock worth $437,875 in the last quarter. Corporate insiders own 4.24% of the company’s stock.

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.