Analysts Set Design Therapeutics, Inc. (NASDAQ:DSGN) PT at $14.00

Design Therapeutics, Inc. (NASDAQ:DSGN) has earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several equities research analysts have recently weighed in on DSGN shares. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $6.00 to $13.00 in a research note on Thursday, November 20th. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Craig Hallum started 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. Leerink Partnrs upgraded Design Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSGN. Almitas Capital LLC raised its stake in Design Therapeutics by 9.8% during the 1st quarter. Almitas Capital LLC now owns 1,452,896 shares of the company’s stock valued at $5,608,000 after purchasing an additional 129,229 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Design Therapeutics by 17.7% in the first quarter. Driehaus Capital Management LLC now owns 913,399 shares of the company’s stock worth $3,526,000 after buying an additional 137,317 shares during the period. Geode Capital Management LLC grew its holdings in shares of Design Therapeutics by 2.4% during the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after buying an additional 18,511 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Design Therapeutics during the first quarter valued at $2,492,000. Finally, Acadian Asset Management LLC raised its position in Design Therapeutics by 11.2% during the first quarter. Acadian Asset Management LLC now owns 630,953 shares of the company’s stock valued at $2,434,000 after buying an additional 63,349 shares during the period. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Price Performance

Shares of DSGN opened at $9.10 on Monday. The firm’s 50 day moving average is $8.52 and its 200-day moving average is $6.33. Design Therapeutics has a 12-month low of $2.60 and a 12-month high of $10.31. The stock has a market capitalization of $518.34 million, a P/E ratio of -7.65 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. As a group, equities research analysts forecast that Design Therapeutics will post -0.91 EPS for the current fiscal 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.