Brokerages Set Design Therapeutics, Inc. (NASDAQ:DSGN) Target Price at $15.00

Design Therapeutics, Inc. (NASDAQ:DSGN) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $15.00.

A number of analysts have commented on the stock. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Wall Street Zen cut Design Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. 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. Oppenheimer began coverage on Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday.

Hedge Funds Weigh In On Design Therapeutics

Institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Design Therapeutics in the second quarter valued at $43,000. Bridgeway Capital Management LLC increased its holdings in Design Therapeutics by 65.4% during the 2nd quarter. Bridgeway Capital Management LLC now owns 188,200 shares of the company’s stock worth $634,000 after purchasing an additional 74,400 shares during the period. Jane Street Group LLC increased its holdings in Design Therapeutics by 71.5% during the 2nd quarter. Jane Street Group LLC now owns 31,079 shares of the company’s stock worth $105,000 after purchasing an additional 12,954 shares during the period. Geode Capital Management LLC raised its position in Design Therapeutics by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after purchasing an additional 18,511 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Design Therapeutics in the 1st quarter valued at about $87,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

Design Therapeutics Stock Performance

NASDAQ:DSGN opened at $10.18 on Friday. The firm’s fifty day moving average is $9.28 and its two-hundred day moving average is $6.94. The firm has a market cap of $579.85 million, a price-to-earnings ratio of -8.55 and a beta of 1.63. Design Therapeutics has a one year low of $2.60 and a one year high of $10.97.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. As a group, equities research analysts predict that Design Therapeutics will post -0.91 earnings per share for the current fiscal year.

About Design Therapeutics

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.