Design Therapeutics, Inc. (NASDAQ:DSGN) Receives $16.50 Consensus Target Price from Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research report on Wednesday, April 29th. Oppenheimer increased their price objective on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Cantor Fitzgerald started coverage on Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating on the stock.

Design Therapeutics Price Performance

NASDAQ:DSGN opened at $12.06 on Friday. The company has a market cap of $753.27 million, a PE ratio of -10.05 and a beta of 1.58. Design Therapeutics has a one year low of $3.76 and a one year high of $17.25. The firm has a 50-day moving average of $12.52 and a 200-day moving average of $11.54.

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

Institutional Investors Weigh In On Design Therapeutics

Several large investors have recently made changes to their positions in DSGN. Woodline Partners LP bought a new position in Design Therapeutics during the first quarter valued at about $2,492,000. Jane Street Group LLC purchased a new position in Design Therapeutics in the first quarter valued at about $70,000. Strs Ohio bought a new position in shares of Design Therapeutics during the 1st quarter valued at approximately $87,000. Geode Capital Management LLC grew its position in shares of Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after acquiring an additional 18,511 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares during the last quarter. 56.64% of the stock is owned by hedge funds and other institutional investors.

About Design Therapeutics

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.