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

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $16.50.

A number of equities research analysts have recently weighed in on the company. Oppenheimer raised their price target on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price target on shares of Design Therapeutics in a research note on Wednesday, April 29th. Jefferies Financial Group assumed coverage on Design Therapeutics in a research note on Monday, March 16th. They set a “buy” rating and a $15.00 price target for the company. Royal Bank Of Canada increased their price objective on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday.

Design Therapeutics Price Performance

DSGN opened at $14.22 on Friday. Design Therapeutics has a fifty-two week low of $3.11 and a fifty-two week high of $17.25. The business has a 50-day moving average of $11.62 and a 200-day moving average of $9.88. The company has a market capitalization of $888.18 million, a PE ratio of -11.85 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. On average, equities research analysts expect that Design Therapeutics will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DSGN. Woodline Partners LP acquired a new position in shares of Design Therapeutics during the 1st quarter valued at about $2,492,000. Jane Street Group LLC acquired a new position in shares of Design Therapeutics during the 1st quarter valued at about $70,000. Strs Ohio acquired a new position in shares of Design Therapeutics during the 1st quarter valued at about $87,000. Geode Capital Management LLC increased its holdings in shares of Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after acquiring an additional 18,511 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Design Therapeutics by 26.8% during 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. Institutional investors and hedge funds own 56.64% of the company’s stock.

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.