Design Therapeutics, Inc. (NASDAQ:DSGN) Receives $16.50 Average Price Target from Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $16.50.

Several brokerages have recently weighed in on DSGN. Piper Sandler reissued an “overweight” rating and issued a $20.00 price target on shares of Design Therapeutics in a research note on Wednesday, April 29th. Cantor Fitzgerald initiated coverage on shares of Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th. Oppenheimer upped their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vivo Capital LLC purchased a new position in Design Therapeutics in the fourth quarter valued at about $15,129,000. RA Capital Management L.P. boosted its holdings in shares of 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 worth $13,708,000 after acquiring an additional 985,682 shares during the period. Woodline Partners LP bought a new position in Design Therapeutics in the 1st quarter worth about $2,492,000. Baker BROS. Advisors LP boosted its position in shares of Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after acquiring an additional 520,217 shares during the period. Finally, Invesco Ltd. boosted its holdings in Design Therapeutics by 1,995.8% in 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 hedge funds and other institutional investors.

Design Therapeutics Stock Down 1.3%

Shares of DSGN opened at $11.63 on Friday. The business has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $11.57. Design Therapeutics has a 12-month low of $3.76 and a 12-month high of $17.25. The stock has a market cap of $726.41 million, a PE ratio of -9.69 and a beta of 1.58.

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