Design Therapeutics (NASDAQ:DSGN) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Design Therapeutics (NASDAQ:DSGN) in a report released on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $15.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Oppenheimer began coverage on shares of Design Therapeutics in a research note on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price objective for the company. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Royal Bank Of Canada boosted their target price on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Craig Hallum initiated coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target for the company. Finally, Leerink Partners set a $14.00 price target on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Design Therapeutics Stock Up 8.6%

Shares of DSGN opened at $10.99 on Monday. Design Therapeutics has a 52-week low of $2.60 and a 52-week high of $11.23. The stock has a market cap of $677.75 million, a PE ratio of -9.01 and a beta of 1.63. The firm’s fifty day moving average is $10.07 and its two-hundred day moving average is $8.40.

Design Therapeutics (NASDAQ:DSGN) last issued its 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, research analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in Design Therapeutics during the fourth quarter worth $26,000. Los Angeles Capital Management LLC purchased a new stake in Design Therapeutics in the second quarter valued at $43,000. Russell Investments Group Ltd. lifted its stake 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 valued at $48,000 after purchasing an additional 2,618 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing an additional 3,033 shares during the last quarter. Finally, Velan Capital Investment Management LP grew its holdings in shares of Design Therapeutics by 42.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $67,000 after purchasing an additional 6,000 shares during the period. 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.