Design Therapeutics (NASDAQ:DSGN) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group began coverage on shares of Design Therapeutics (NASDAQ:DSGN) in a research note issued on Monday. The brokerage set a “buy” rating and a $15.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 48.22% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on DSGN. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Leerink Partners set a $14.00 price objective on shares of Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Oppenheimer started coverage on shares of Design Therapeutics in a research note on Wednesday, January 7th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Craig Hallum assumed coverage on shares of Design Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.20.

Design Therapeutics Trading Up 1.0%

NASDAQ DSGN opened at $10.12 on Monday. The stock has a market capitalization of $624.10 million, a price-to-earnings ratio of -8.30 and a beta of 1.63. Design Therapeutics has a twelve month low of $2.60 and a twelve month high of $11.14. The stock has a 50-day moving average of $10.02 and a 200 day moving average of $8.36.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.11. Equities analysts predict that Design Therapeutics will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Design Therapeutics during the second quarter worth $43,000. DLD Asset Management LP purchased a new position in shares of Design Therapeutics in the third quarter worth about $376,000. Corient Private Wealth LLC acquired a new position in Design Therapeutics during the fourth quarter worth about $253,000. Wells Fargo & Company MN boosted its position in Design Therapeutics by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 26,786 shares of the company’s stock worth $251,000 after acquiring an additional 8,469 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in Design Therapeutics by 95.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 29,411 shares of the company’s stock valued at $221,000 after acquiring an additional 14,401 shares in the last quarter. Hedge funds and other institutional investors own 56.64% of the company’s stock.

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.