Wedbush Issues Negative Estimate for Disc Medicine Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Equities research analysts at Wedbush lowered their Q4 2024 EPS estimates for Disc Medicine in a research 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 previous forecast of ($0.89). Wedbush has a “Outperform” rating and a $83.00 price objective 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) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. HC Wainwright boosted their price target on Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company started coverage on Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, 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 report on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $85.80.

Disc Medicine Price Performance

IRON opened at $60.67 on Friday. The stock has a fifty day moving average of $51.02 and a 200-day moving average of $44.75. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Institutional Trading of Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in IRON. Amalgamated Bank lifted its stake in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Disc Medicine by 45.7% in the 3rd 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 bought a new position in Disc Medicine in the second quarter valued at about $129,000. Quest Partners LLC acquired a new stake in shares of Disc Medicine during the third quarter valued at about $131,000. Finally, Quantbot Technologies LP bought a new stake in shares of Disc Medicine during the third quarter worth about $146,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 7,538 shares of company stock valued at $437,875. 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.