Brokerages Set Design Therapeutics, Inc. (NASDAQ:DSGN) Price Target at $14.00

by · The Cerbat Gem

Design Therapeutics, Inc. (NASDAQ:DSGN – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.00.

Several research analysts recently weighed in on the company. Leerink Partnrs raised Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Wall Street Zen lowered shares of Design Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Leerink Partners set a $14.00 price target on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $6.00 to $13.00 in a report on Thursday, November 20th. Finally, 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.

Read Our Latest Report on Design Therapeutics

Institutional Investors Weigh In On Design Therapeutics

A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Design Therapeutics in the 2nd quarter valued at about $43,000. Invesco Ltd. lifted its position in shares of Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Design Therapeutics during the 1st quarter valued at $70,000. Finally, Velan Capital Investment Management LP grew its stake in Design Therapeutics by 42.9% in the second 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 in the last quarter. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Trading Down 4.2%

Shares of NASDAQ:DSGN opened at $9.38 on Monday. The company has a 50 day moving average of $8.38 and a 200-day moving average of $6.24. The firm has a market cap of $534.28 million, a P/E ratio of -7.88 and a beta of 1.63. Design Therapeutics has a twelve month low of $2.60 and a twelve month high of $10.31.

Design Therapeutics (NASDAQ:DSGN – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. Equities research analysts forecast that Design Therapeutics will post -0.91 EPS for the current year.

Design Therapeutics Company Profile

(Get Free Report)

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.

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