Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $15.20.

Several research firms recently issued reports on DSGN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. Leerink Partners set a $14.00 target price on shares of Design Therapeutics and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada raised their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Oppenheimer started coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a research report on Monday. They set a “buy” rating and a $15.00 target price for the company.

Hedge Funds Weigh In On Design Therapeutics

Institutional investors have recently modified their holdings of the stock. Torren Management LLC bought a new stake in shares of Design Therapeutics in the 4th quarter valued at about $26,000. Los Angeles Capital Management LLC acquired a new stake in Design Therapeutics in the second quarter worth $43,000. Russell Investments Group Ltd. boosted its position in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after purchasing an additional 2,618 shares in the last quarter. Invesco Ltd. boosted its position in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares in the last quarter. Finally, Velan Capital Investment Management LP grew its holdings in shares of 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 buying an additional 6,000 shares during the period. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Price Performance

DSGN opened at $10.30 on Friday. The stock has a market capitalization of $635.20 million, a P/E ratio of -8.44 and a beta of 1.63. The company’s 50 day simple moving average is $10.12 and its 200-day simple moving average is $8.45. Design Therapeutics has a one year low of $2.60 and a one year high of $11.23.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.11. As a group, analysts anticipate 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.