Piper Sandler Upgrades Design Therapeutics (NASDAQ:DSGN) to “Overweight”

Design Therapeutics (NASDAQ:DSGN) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $12.00 target price on the stock, up from their previous target price of $6.00. Piper Sandler’s target price suggests a potential upside of 228.77% from the company’s current price.

Several other equities analysts have also recently issued reports on DSGN. Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of Design Therapeutics in a research report on Wednesday, March 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 price target on shares of Design Therapeutics in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.60.

Design Therapeutics Price Performance

DSGN stock opened at $3.65 on Tuesday. The company has a 50 day simple moving average of $3.39 and a 200 day simple moving average of $2.73. The stock has a market cap of $206.19 million, a price-to-earnings ratio of -3.04 and a beta of 1.83. Design Therapeutics has a 1 year low of $1.94 and a 1 year high of $8.47.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.11. On average, equities research analysts anticipate that Design Therapeutics will post -1.26 EPS for the current fiscal year.

Insider Activity

In related news, Director John P. Schmid bought 17,809 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $3.74 per share, with a total value of $66,605.66. Following the completion of the purchase, the director now directly owns 26,965 shares in the company, valued at $100,849.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Design Therapeutics news, Director John P. Schmid acquired 17,809 shares of the company’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $3.74 per share, with a total value of $66,605.66. Following the completion of the purchase, the director now owns 26,965 shares of the company’s stock, valued at $100,849.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Schmid acquired 9,156 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average cost of $3.62 per share, for a total transaction of $33,144.72. Following the completion of the purchase, the director now directly owns 9,156 shares of the company’s stock, valued at approximately $33,144.72. The disclosure for this purchase can be found here. Insiders own 25.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its holdings in Design Therapeutics by 199.3% during the first quarter. GSA Capital Partners LLP now owns 216,347 shares of the company’s stock worth $872,000 after buying an additional 144,055 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Design Therapeutics during the first quarter worth about $57,000. Simplicity Wealth LLC purchased a new stake in Design Therapeutics during the first quarter worth about $46,000. Assenagon Asset Management S.A. increased its holdings in Design Therapeutics by 41.8% during the first quarter. Assenagon Asset Management S.A. now owns 347,794 shares of the company’s stock worth $1,402,000 after buying an additional 102,567 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Design Therapeutics during the fourth quarter worth about $70,000. 56.64% of the stock is owned by institutional investors.

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.