Leerink Partnrs Analysts Lower Earnings Estimates for Disc Medicine, Inc. (NASDAQ:IRON)

Disc Medicine, Inc. (NASDAQ:IRONFree Report) – Equities researchers at Leerink Partnrs cut their Q1 2024 EPS estimates for shares of Disc Medicine in a research note issued to investors on Thursday, March 21st. Leerink Partnrs analyst T. Smith now forecasts that the company will earn ($1.10) per share for the quarter, down from their previous forecast of ($0.87). The consensus estimate for Disc Medicine’s current full-year earnings is ($3.91) per share. Leerink Partnrs also issued estimates for Disc Medicine’s Q2 2024 earnings at ($1.06) EPS, Q3 2024 earnings at ($1.06) EPS, Q4 2024 earnings at ($1.10) EPS, FY2024 earnings at ($4.33) EPS, FY2025 earnings at ($5.33) EPS, FY2026 earnings at ($7.92) EPS, FY2027 earnings at ($10.44) EPS and FY2028 earnings at ($8.59) EPS.

Disc Medicine (NASDAQ:IRONGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22).

IRON has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $84.00 target price (up previously from $79.00) on shares of Disc Medicine in a research note on Thursday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a report on Friday. BMO Capital Markets increased their price objective on shares of Disc Medicine from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Wednesday, December 20th. Finally, Morgan Stanley lowered shares of Disc Medicine from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $56.00 to $65.00 in a report on Tuesday, December 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $74.86.

Read Our Latest Report on IRON

Disc Medicine Trading Down 1.8 %

NASDAQ IRON opened at $59.50 on Monday. Disc Medicine has a 12 month low of $18.25 and a 12 month high of $77.60. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -17.05 and a beta of 0.20. The company’s 50 day moving average is $65.69 and its two-hundred day moving average is $57.07.

Insider Transactions at Disc Medicine

In other news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of Disc Medicine stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the completion of the sale, the insider now directly owns 1,402,186 shares in the company, valued at $94,857,882.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Disc Medicine news, Director Kevin Bitterman sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the completion of the transaction, the director now directly owns 786,160 shares in the company, valued at $50,314,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the completion of the transaction, the insider now owns 1,402,186 shares of the company’s stock, valued at $94,857,882.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,000 shares of company stock worth $13,347,500. 4.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new stake in shares of Disc Medicine during the second quarter worth about $32,982,000. Citadel Advisors LLC grew its stake in shares of Disc Medicine by 280.4% during the second quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock worth $28,919,000 after acquiring an additional 480,082 shares during the last quarter. BlackRock Inc. grew its stake in shares of Disc Medicine by 2,041.5% during the second quarter. BlackRock Inc. now owns 502,549 shares of the company’s stock worth $22,313,000 after acquiring an additional 479,082 shares during the last quarter. Polar Capital Holdings Plc purchased a new stake in shares of Disc Medicine during the second quarter worth about $18,942,000. Finally, Cormorant Asset Management LP purchased a new stake in shares of Disc Medicine during the second quarter worth about $9,990,000. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Company Profile

(Get Free Report)

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.

See Also

Earnings History and Estimates for Disc Medicine (NASDAQ:IRON)

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