HC Wainwright Increases Earnings Estimates for Disc Medicine

Disc Medicine, Inc. (NASDAQ:IRON) – HC Wainwright boosted their FY2024 earnings estimates for shares of Disc Medicine in a research report issued on Wednesday, November 13th. HC Wainwright analyst D. Tsao now expects that the company will post earnings per share of ($3.88) for the year, up from their previous forecast of ($3.91). HC Wainwright currently 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 ($4.15) per share. HC Wainwright also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.88) EPS, Q1 2025 earnings at ($1.02) EPS, Q2 2025 earnings at ($1.17) EPS, Q3 2025 earnings at ($1.33) EPS, Q4 2025 earnings at ($1.35) EPS, FY2025 earnings at ($4.87) EPS, FY2026 earnings at ($3.94) EPS, FY2027 earnings at ($3.38) EPS and FY2028 earnings at ($1.50) EPS.

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

IRON has been the subject of a number of other reports. 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. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective on the stock. Scotiabank boosted their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Finally, Wedbush reissued an “outperform” rating and set a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a report on Tuesday. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Disc Medicine presently has a consensus rating of “Buy” and a consensus target price of $85.80.

Disc Medicine Price Performance

Disc Medicine stock opened at $60.67 on Friday. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The stock has a fifty day simple moving average of $51.02 and a two-hundred day simple moving average of $44.75.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently made changes to their positions in the business. Atlas Venture Life Science Advisors LLC grew its stake in Disc Medicine by 9.7% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after acquiring an additional 222,223 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C lifted its stake in shares of Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after purchasing an additional 357,730 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after buying an additional 353,382 shares in the last quarter. Finally, Logos Global Management LP acquired a new stake in Disc Medicine in the second quarter valued at approximately $41,690,000. 83.70% of the stock is currently owned by institutional investors.

Insider Activity at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 7,538 shares of company stock worth $437,875. Company 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.