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

Design Therapeutics, Inc. (NASDAQ:DSGN) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $16.50.

A number of equities analysts have issued reports on DSGN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday, April 29th. Oppenheimer upped their target price on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Royal Bank Of Canada upped their target price on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group started coverage on Design Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $15.00 target price on the stock.

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors have recently made changes to their positions in DSGN. Torren Management LLC acquired a new position in shares of Design Therapeutics in the 4th quarter valued at approximately $26,000. Russell Investments Group Ltd. increased its holdings in shares of Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after acquiring an additional 2,618 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after acquiring an additional 3,033 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Design Therapeutics in the 4th quarter valued at approximately $67,000. Finally, Jane Street Group LLC bought a new stake in shares of Design Therapeutics in the 1st quarter valued at approximately $70,000. 56.64% of the stock is owned by institutional investors and hedge funds.

Design Therapeutics Stock Performance

Design Therapeutics stock opened at $13.35 on Monday. The stock’s 50 day moving average price is $12.38 and its 200 day moving average price is $10.98. Design Therapeutics has a one year low of $3.33 and a one year high of $17.25. The firm has a market capitalization of $833.84 million, a PE ratio of -11.12 and a beta of 1.63.

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 analysts’ consensus estimates of ($0.36) by $0.07. On average, analysts forecast that Design Therapeutics will post -1.36 earnings per share for the current fiscal 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.