Design Therapeutics (NASDAQ:DSGN) Now Covered by Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group began coverage on shares of Design Therapeutics (NASDAQ:DSGN) in a report released on Monday. The firm set a “buy” rating and a $15.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 48.22% from the company’s previous close.

Several other research analysts have also commented on the company. Oppenheimer initiated coverage on Design Therapeutics in a report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Leerink Partners set a $14.00 price objective on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Craig Hallum initiated coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Design Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $15.20.

Design Therapeutics Stock Performance

NASDAQ:DSGN opened at $10.12 on Monday. Design Therapeutics has a one year low of $2.60 and a one year high of $11.14. The stock has a market cap of $624.10 million, a PE ratio of -8.30 and a beta of 1.63. The stock has a 50 day moving average price of $10.02 and a 200 day moving average price of $8.36.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Monday, March 9th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.11. As a group, analysts predict that Design Therapeutics will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DSGN. Los Angeles Capital Management LLC acquired a new position in Design Therapeutics in the second quarter valued at about $43,000. DLD Asset Management LP acquired a new stake in shares of Design Therapeutics during the third quarter valued at about $376,000. China Universal Asset Management Co. Ltd. increased its position in shares of Design Therapeutics by 206.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 34,982 shares of the company’s stock valued at $263,000 after acquiring an additional 23,580 shares during the last quarter. Velan Capital Investment Management LP raised its stake in shares of Design Therapeutics by 42.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after acquiring an additional 6,000 shares during the period. Finally, Baker BROS. Advisors LP lifted its holdings in shares of Design Therapeutics by 30.4% in the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after acquiring an additional 520,217 shares during the last quarter. 56.64% of the stock is currently owned by hedge funds and other 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.