Analysts Set Design Therapeutics, Inc. (NASDAQ:DSGN) PT at $16.50

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $16.50.

DSGN has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price target on shares of Design Therapeutics in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald began coverage on Design Therapeutics in a report on Tuesday, May 12th. They set an “overweight” rating on the stock.

Institutional Investors Weigh In On Design Therapeutics

A number of hedge funds have recently added to or reduced their stakes in DSGN. ADAR1 Capital Management LLC bought a new position in Design Therapeutics in the first quarter valued at about $106,000. Royal Bank of Canada lifted its holdings in Design Therapeutics by 1,681.5% during the first quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock valued at $121,000 after purchasing an additional 10,728 shares in the last quarter. Quantinno Capital Management LP bought a new position in Design Therapeutics in the 1st quarter worth $150,000. Renaissance Technologies LLC boosted its stake in shares of Design Therapeutics by 42.2% in the first quarter. Renaissance Technologies LLC now owns 408,200 shares of the company’s stock worth $4,343,000 after acquiring an additional 121,100 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Design Therapeutics by 114.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 15,193 shares of the company’s stock valued at $162,000 after buying an additional 8,100 shares in the last quarter. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

Design Therapeutics Stock Performance

NASDAQ:DSGN opened at $12.57 on Friday. The firm has a market cap of $785.12 million, a P/E ratio of -10.47 and a beta of 1.58. Design Therapeutics has a fifty-two week low of $3.76 and a fifty-two week high of $17.25. The firm has a 50-day simple moving average of $12.67 and a two-hundred day simple moving average of $11.51.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.07. On average, equities research analysts predict that Design Therapeutics will post -1.36 EPS for the current year.

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.