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

Design Therapeutics, Inc. (NASDAQ:DSGN) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.50.

A number of equities analysts recently commented on the company. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Piper Sandler reissued an “overweight” rating and set a $20.00 price target on shares of Design Therapeutics in a research note on Wednesday, April 29th. Oppenheimer increased their price target on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Cantor Fitzgerald assumed coverage on Design Therapeutics in a research note on Tuesday, May 12th. They set an “overweight” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th.

Design Therapeutics Trading Down 2.6%

Shares of Design Therapeutics stock opened at $11.10 on Thursday. The stock has a 50 day moving average of $12.29 and a 200 day moving average of $10.51. Design Therapeutics has a 12 month low of $3.33 and a 12 month high of $17.25. The firm has a market cap of $693.31 million, a PE ratio of -9.25 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. As a group, equities research analysts forecast that Design Therapeutics will post -1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Design Therapeutics

Institutional investors have recently modified their holdings of the stock. DLD Asset Management LP bought a new stake in shares of Design Therapeutics in the 3rd quarter valued at approximately $376,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Design Therapeutics by 206.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 34,982 shares of the company’s stock valued at $263,000 after purchasing an additional 23,580 shares during the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of Design Therapeutics by 4.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock valued at $226,000 after purchasing an additional 969 shares during the last quarter. Strs Ohio lifted its stake in shares of Design Therapeutics by 77.4% in the 1st quarter. Strs Ohio now owns 44,700 shares of the company’s stock valued at $476,000 after purchasing an additional 19,500 shares during the last quarter. Finally, Elmind Capital LP bought a new stake in shares of Design Therapeutics in the 4th quarter valued at approximately $1,950,000. 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. 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.