Royal Bank Of Canada Issues Positive Forecast for Design Therapeutics (NASDAQ:DSGN) Stock Price

Design Therapeutics (NASDAQ:DSGN) had its price target raised by Royal Bank Of Canada from $13.00 to $14.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Oppenheimer assumed 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. Leerink Partners set a $14.00 target price on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Craig Hallum started coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Design Therapeutics has an average rating of “Moderate Buy” and an average price target of $15.25.

Design Therapeutics Stock Performance

Shares of DSGN opened at $9.99 on Tuesday. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $11.14. The stock has a market capitalization of $569.03 million, a price-to-earnings ratio of -8.19 and a beta of 1.63. The stock has a fifty day moving average of $9.98 and a 200-day moving average of $8.26.

Design Therapeutics (NASDAQ:DSGN) last issued 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, equities analysts forecast that Design Therapeutics will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Design Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in Design Therapeutics during the 4th quarter valued at approximately $26,000. Los Angeles Capital Management LLC bought a new position in Design Therapeutics during the 2nd quarter worth approximately $43,000. Russell Investments Group Ltd. lifted its position in shares of Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after purchasing an additional 2,618 shares during the period. Invesco Ltd. lifted its position in shares of Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares during the period. Finally, Velan Capital Investment Management LP boosted 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 purchasing an additional 6,000 shares during the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

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.