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

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.00.

Several equities research analysts recently weighed in on the company. Craig Hallum initiated coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Royal Bank Of Canada raised shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $6.00 to $13.00 in a research report on Thursday, November 20th. Finally, Oppenheimer started coverage on Design Therapeutics in a research note on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price target for the company.

Design Therapeutics Stock Up 2.5%

NASDAQ:DSGN opened at $10.28 on Tuesday. The firm’s fifty day simple moving average is $9.77 and its 200 day simple moving average is $7.72. The stock has a market cap of $585.55 million, a P/E ratio of -8.64 and a beta of 1.63. Design Therapeutics has a twelve month low of $2.60 and a twelve month high of $10.97.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds have recently modified their holdings of DSGN. Bank of America Corp DE raised its stake in Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock valued at $83,000 after purchasing an additional 2,459 shares during the period. Strs Ohio lifted its stake in shares of Design Therapeutics by 11.5% in the 4th quarter. Strs Ohio now owns 25,200 shares of the company’s stock valued at $236,000 after purchasing an additional 2,600 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after buying an additional 2,618 shares during the period. Torren Management LLC purchased a new position in shares of Design Therapeutics during the 4th quarter worth about $26,000. Finally, Invesco Ltd. grew its stake in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after buying an additional 3,033 shares during the last quarter. 56.64% of the stock is currently 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.