Design Therapeutics, Inc. (NASDAQ:DSGN) Given Consensus Rating of “Moderate Buy” by Brokerages

Design Therapeutics, Inc. (NASDAQ:DSGN) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $15.00.

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

Hedge Funds Weigh In On Design Therapeutics

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE increased its position in shares of Design Therapeutics by 11.1% in the second 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 last quarter. Russell Investments Group Ltd. grew its stake in Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after purchasing an additional 2,618 shares in the last quarter. Invesco Ltd. grew its stake in Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing an additional 3,033 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Design Therapeutics by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,221 shares of the company’s stock worth $175,000 after purchasing an additional 4,896 shares during the last quarter. Finally, Velan Capital Investment Management LP raised its stake in shares of Design Therapeutics by 42.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $67,000 after purchasing an additional 6,000 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Trading Up 11.2%

Shares of Design Therapeutics stock opened at $10.62 on Friday. The company has a market capitalization of $604.92 million, a PE ratio of -8.92 and a beta of 1.63. Design Therapeutics has a 12 month low of $2.60 and a 12 month high of $10.80. The stock’s fifty day simple moving average is $9.22 and its 200 day simple moving average is $6.85.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. Analysts predict that Design Therapeutics will post -0.91 EPS 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.