Design Therapeutics, Inc. (NASDAQ:DSGN) Given Average Rating of “Moderate Buy” by Brokerages

Design Therapeutics, Inc. (NASDAQ:DSGN) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $16.00.

A number of equities analysts have issued reports on DSGN shares. Wall Street Zen cut shares of Design Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group started coverage on shares of Design Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $15.00 price objective on the stock. Royal Bank Of Canada raised their price objective on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th. Finally, Oppenheimer began coverage on shares of Design Therapeutics in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price objective on the stock.

Design Therapeutics Stock Performance

Shares of DSGN stock opened at $13.30 on Friday. Design Therapeutics has a 52-week low of $3.11 and a 52-week high of $17.25. The stock has a market cap of $830.68 million, a PE ratio of -11.08 and a beta of 1.73. The firm’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $9.70.

Design Therapeutics (NASDAQ:DSGN) last announced 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. As a group, sell-side analysts predict that Design Therapeutics will post -1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Torren Management LLC bought a new position in shares of Design Therapeutics during the fourth quarter worth $26,000. Russell Investments Group Ltd. boosted its position 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 worth $48,000 after purchasing an additional 2,618 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Design Therapeutics during the fourth quarter worth $67,000. AXQ Capital LP bought a new position in shares of Design Therapeutics during the fourth quarter worth $110,000. Finally, Engineers Gate Manager LP bought a new position in shares of Design Therapeutics during the fourth quarter worth $131,000. 56.64% of the stock is owned by institutional investors.

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.