Design Therapeutics, Inc. (NASDAQ:DSGN) Receives $6.60 Consensus Target Price from Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $6.60.

Several research analysts have issued reports on DSGN shares. Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Design Therapeutics in a report on Wednesday, March 20th. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Finally, Piper Sandler upgraded shares of Design Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $6.00 to $12.00 in a report on Tuesday, May 7th.

Design Therapeutics Stock Performance

Shares of DSGN stock opened at $3.20 on Friday. The company has a market cap of $180.77 million, a P/E ratio of -3.05 and a beta of 1.82. Design Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $8.31. The stock has a 50 day simple moving average of $3.92 and a two-hundred day simple moving average of $3.25.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. On average, research analysts predict that Design Therapeutics will post -1.02 earnings per share for the current year.

Institutional Investors Weigh In On Design Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. BML Capital Management LLC bought a new stake in Design Therapeutics during the fourth quarter worth $2,728,000. RTW Investments LP raised its position in Design Therapeutics by 60.8% in the third quarter. RTW Investments LP now owns 2,512,986 shares of the company’s stock worth $5,931,000 after acquiring an additional 949,955 shares during the period. Vanguard Group Inc. grew its position in shares of Design Therapeutics by 29.0% during the 1st quarter. Vanguard Group Inc. now owns 1,285,962 shares of the company’s stock valued at $5,182,000 after acquiring an additional 288,803 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Design Therapeutics by 123.3% in the 1st quarter. Acadian Asset Management LLC now owns 403,546 shares of the company’s stock worth $1,625,000 after purchasing an additional 222,805 shares during the period. Finally, Baker BROS. Advisors LP grew its holdings in Design Therapeutics by 10.8% during the first quarter. Baker BROS. Advisors LP now owns 1,662,120 shares of the company’s stock valued at $6,698,000 after purchasing an additional 162,120 shares during the period. 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.