Design Therapeutics, Inc. (NASDAQ:DSGN) Receives $15.25 Average PT from Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $15.20.

Several analysts have commented on the company. Craig Hallum started coverage on Design Therapeutics in a research note 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 note on Wednesday, January 21st. Jefferies Financial Group began coverage on Design Therapeutics in a report on Monday. They set a “buy” rating and a $15.00 price target on the stock. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Royal Bank Of Canada upped their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vivo Capital LLC bought a new stake in shares of Design Therapeutics in the fourth quarter worth $15,129,000. RA Capital Management L.P. lifted its holdings in Design Therapeutics by 207.2% in the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after acquiring an additional 985,682 shares during the period. Woodline Partners LP purchased a new position in Design Therapeutics in the first quarter worth about $2,492,000. Baker BROS. Advisors LP boosted its position in Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after purchasing an additional 520,217 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Design Therapeutics by 1,995.8% during the 4th quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock valued at $2,868,000 after purchasing an additional 291,168 shares during the period. 56.64% of the stock is owned by institutional investors.

Design Therapeutics Stock Performance

Shares of Design Therapeutics stock opened at $10.99 on Friday. The company has a 50-day simple moving average of $10.07 and a two-hundred day simple moving average of $8.40. The stock has a market capitalization of $677.75 million, a PE ratio of -9.01 and a beta of 1.63. Design Therapeutics has a 52-week low of $2.60 and a 52-week high of $11.23.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.11. As a group, equities research analysts forecast that Design Therapeutics will post -0.91 EPS 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.