HC Wainwright Forecasts Strong Price Appreciation for Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine (NASDAQ:IRON) had its price objective boosted by HC Wainwright from $70.00 to $118.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Disc Medicine’s Q4 2024 earnings at ($0.88) EPS, FY2024 earnings at ($3.88) 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.

Other equities research analysts have also issued research reports about the company. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Jefferies Financial Group started coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a report on Tuesday. Finally, Wells Fargo & Company began coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Stock Down 2.0 %

IRON opened at $59.46 on Wednesday. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The company has a market cap of $1.77 billion, a P/E ratio of -14.94 and a beta of 0.60. The firm’s 50-day moving average price is $51.20 and its 200-day moving average price is $44.97.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, research analysts anticipate that Disc Medicine will post -4.15 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 7,538 shares of company stock valued at $437,875 in the last three months. 4.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Disc Medicine by 17.6% during the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after purchasing an additional 70,983 shares during the last quarter. Barclays PLC increased its position in Disc Medicine by 123.7% during the third quarter. Barclays PLC now owns 40,145 shares of the company’s stock worth $1,972,000 after buying an additional 22,202 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Disc Medicine during the third quarter worth approximately $445,000. Wellington Management Group LLP increased its position in Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after buying an additional 83,731 shares during the period. Finally, State Street Corp increased its position in Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after buying an additional 235,115 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

About Disc Medicine

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.