Brokerages Set Design Therapeutics, Inc. (NASDAQ:DSGN) Target Price at $16.50

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.50.

DSGN has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating and set a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Friday, July 17th. Cantor Fitzgerald began coverage on Design Therapeutics in a research report on Tuesday, May 12th. They set an “overweight” rating on the stock. Oppenheimer raised their price objective on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th.

Institutional Trading of Design Therapeutics

Large investors have recently bought and sold shares of the business. Torren Management LLC acquired a new stake in Design Therapeutics in the fourth quarter valued at approximately $26,000. State of Wyoming bought a new position in shares of Design Therapeutics in the 2nd quarter valued at $37,000. Legal & General Group Plc bought a new position in shares of Design Therapeutics in the 2nd quarter valued at $43,000. Russell Investments Group Ltd. boosted its holdings in shares of Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after acquiring an additional 2,618 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after acquiring an additional 3,033 shares in the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

Design Therapeutics Stock Up 1.8%

DSGN stock opened at $15.10 on Tuesday. The company has a market cap of $944.96 million, a price-to-earnings ratio of -12.80 and a beta of 1.63. Design Therapeutics has a twelve month low of $4.68 and a twelve month high of $17.25. The business has a 50 day moving average price of $13.21 and a two-hundred day moving average price of $12.03.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. On average, equities research analysts anticipate that Design Therapeutics will post -1.41 EPS for the current fiscal 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.