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

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $16.50.

Several equities research analysts have recently weighed in on DSGN shares. Oppenheimer increased their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Cantor Fitzgerald started coverage on shares of Design Therapeutics in a research note on Tuesday, May 12th. They set an “overweight” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th. Jefferies Financial Group started coverage on shares of Design Therapeutics in a research note on Monday, March 16th. They set a “buy” rating and a $15.00 target price for the company. Finally, Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th.

Design Therapeutics Stock Performance

Shares of DSGN opened at $12.44 on Monday. Design Therapeutics has a fifty-two week low of $3.33 and a fifty-two week high of $17.25. The company has a market capitalization of $777.00 million, a price-to-earnings ratio of -10.37 and a beta of 1.63. The firm has a 50-day simple moving average of $12.27 and a 200-day simple moving average of $10.84.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.07. Equities research analysts forecast that Design Therapeutics will post -1.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in Design Therapeutics during the fourth quarter worth about $26,000. Russell Investments Group Ltd. raised its holdings in 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. raised its holdings in 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. Public Employees Retirement System of Ohio purchased a new position in Design Therapeutics during the fourth quarter worth about $67,000. Finally, Jane Street Group LLC purchased a new position in Design Therapeutics during the first quarter worth about $70,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

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.