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

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.00.

A number of equities research analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Design Therapeutics in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price target for the company. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Finally, Craig Hallum began coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target on the stock.

Hedge Funds Weigh In On Design Therapeutics

Institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in Design Therapeutics in the second quarter valued at $43,000. Russell Investments Group Ltd. grew its holdings 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 buying an additional 2,618 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Design Therapeutics by 26.7% during the third 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. Bank of America Corp DE increased its position in Design Therapeutics by 11.1% in the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock valued at $83,000 after acquiring an additional 2,459 shares during the period. Finally, Jane Street Group LLC raised its stake in Design Therapeutics by 71.5% during the 2nd quarter. Jane Street Group LLC now owns 31,079 shares of the company’s stock valued at $105,000 after acquiring an additional 12,954 shares during the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

Design Therapeutics Stock Up 4.3%

DSGN stock opened at $10.57 on Friday. The business has a 50 day moving average price of $9.51 and a 200 day moving average price of $7.07. The stock has a market cap of $602.07 million, a price-to-earnings ratio of -8.88 and a beta of 1.63. Design Therapeutics has a fifty-two week low of $2.60 and a fifty-two week high of $10.97.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. As a group, sell-side analysts anticipate that Design Therapeutics will post -0.91 EPS for the current year.

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.