Brokerages Set Design Therapeutics, Inc. (NASDAQ:DSGN) Price Target at $15.00

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.00.

A number of research firms recently weighed in on DSGN. Oppenheimer assumed coverage on shares of Design Therapeutics in a research report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price objective for the company. Wall Street Zen downgraded shares of Design Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $6.00 to $13.00 in a research note on Thursday, November 20th. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DSGN. Bank of America Corp DE boosted its stake in shares of Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after acquiring an additional 2,459 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after purchasing an additional 2,618 shares during the last quarter. Invesco Ltd. increased its position in shares of Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after buying an additional 3,033 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Design Therapeutics by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,221 shares of the company’s stock worth $175,000 after buying an additional 4,896 shares during the last quarter. Finally, Velan Capital Investment Management LP grew its stake in Design Therapeutics by 42.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Stock Up 1.2%

NASDAQ DSGN opened at $10.59 on Friday. The business’s fifty day simple moving average is $9.40 and its 200-day simple moving average is $7.03. The firm has a market cap of $603.21 million, a PE ratio of -8.90 and a beta of 1.63. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $10.97.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. Research analysts expect that Design Therapeutics will post -0.91 EPS for the current year.

Design Therapeutics Company Profile

Design Therapeutics, Inc a biopharmaceutical company, researches, designs, develops, and commercializes small molecule therapeutic drugs for the treatment of genetic diseases in the United States. The company utilizes its GeneTAC platform to design and develop therapeutic candidates for inherited diseases caused by nucleotide repeat expansion. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.