FY2024 EPS Estimates for Disc Medicine, Inc. (NASDAQ:IRON) Boosted by Cantor Fitzgerald

Disc Medicine, Inc. (NASDAQ:IRON) – Equities research analysts at Cantor Fitzgerald raised their FY2024 earnings per share estimates for Disc Medicine in a note issued to investors on Wednesday, June 26th. Cantor Fitzgerald analyst K. Kluska now expects that the company will post earnings per share of ($4.45) for the year, up from their previous estimate of ($5.12). Cantor Fitzgerald has a “Overweight” rating and a $85.00 price target on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.47) per share.

Other research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a report on Friday, June 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. Morgan Stanley dropped their price target on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Wedbush restated an “outperform” rating and issued a $57.00 price objective (up previously from $43.00) on shares of Disc Medicine in a report on Friday, June 14th. Finally, Raymond James raised their price target on Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.57.

Disc Medicine Stock Performance

IRON stock opened at $45.07 on Friday. The company has a market capitalization of $1.11 billion, a PE ratio of -13.33 and a beta of 0.51. The company’s 50 day moving average price is $35.07 and its two-hundred day moving average price is $50.21. Disc Medicine has a one year low of $25.60 and a one year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.09).

Insider Buying and Selling

In related news, Director William Richard White sold 2,560 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total transaction of $81,408.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IRON. Adage Capital Partners GP L.L.C. grew its position in shares of Disc Medicine by 12.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after acquiring an additional 145,781 shares during the period. Perceptive Advisors LLC raised its holdings in shares of Disc Medicine by 14.2% during the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after acquiring an additional 127,404 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after purchasing an additional 353,382 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings in Disc Medicine by 19.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after acquiring an additional 130,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Disc Medicine by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 782,751 shares of the company’s stock valued at $48,734,000 after purchasing an additional 18,207 shares during the last quarter. Institutional investors own 83.70% 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.