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

Design Therapeutics, Inc. (NASDAQ:DSGN) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $15.20.

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Oppenheimer assumed coverage on Design Therapeutics in a research report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price objective on the stock. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Jefferies Financial Group initiated coverage on Design Therapeutics in a research report on Monday, March 16th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st.

Institutional Investors Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSGN. Vivo Capital LLC purchased a new stake in Design Therapeutics in the fourth quarter valued at about $15,129,000. RA Capital Management L.P. raised its stake in Design Therapeutics by 207.2% in the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after buying an additional 985,682 shares during the last quarter. Woodline Partners LP purchased a new stake in Design Therapeutics in the first quarter valued at about $2,492,000. Baker BROS. Advisors LP raised its stake in Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after buying an additional 520,217 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Design Therapeutics by 1,995.8% in the fourth quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock valued at $2,868,000 after buying an additional 291,168 shares during the last quarter. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

Design Therapeutics Price Performance

Shares of DSGN stock opened at $12.22 on Wednesday. Design Therapeutics has a 1-year low of $2.60 and a 1-year high of $12.75. The stock’s 50-day moving average is $10.45 and its 200 day moving average is $8.95. The company has a market cap of $753.61 million, a P/E ratio of -10.02 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.11. On average, 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.