Design Therapeutics (NASDAQ:DSGN) Given New $19.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Design Therapeutics from $20 to $19 but maintained an “outperform” rating; the new target implies 91.44% upside from the prior close.
• Analyst views are mixed: MarketBeat reports a “Moderate Buy” consensus and an average target of $18.57, while one analyst rates the shares “Sell.”
• Design Therapeutics reported a quarterly loss of $0.32 per share, slightly better than the $0.34 loss analysts expected. Shares traded at $9.93 on Thursday.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) had its price objective reduced by research analysts at Royal Bank Of Canada from $20.00 to $19.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 91.44% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company started coverage on Design Therapeutics in a report on Friday, October 2nd. They issued an "overweight" rating and a $26.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Design Therapeutics in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.57.

Design Therapeutics Price Performance

Design Therapeutics stock traded down $0.70 during midday trading on Thursday, hitting $9.93. The company's stock had a trading volume of 233,090 shares, compared to its average volume of 583,753. The company has a market cap of $621.11 million, a price-to-earnings ratio of -8.39 and a beta of 1.73. The company has a 50-day moving average price of $12.36 and a two-hundred day moving average price of $12.14. Design Therapeutics has a 1-year low of $6.23 and a 1-year high of $17.25.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.02. Sell-side analysts forecast that Design Therapeutics will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Design Therapeutics in the second quarter valued at about $38,491,000. Trails Edge Capital Partners LP purchased a new stake in Design Therapeutics during the second quarter worth $28,958,550. Frazier Life Sciences Management L.P. acquired a new stake in shares of Design Therapeutics during the 2nd quarter valued at about $26,189,000. Almitas Capital LLC acquired a new position in shares of Design Therapeutics during the 2nd quarter worth approximately $14,859,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Design Therapeutics by 45.0% in the first quarter. Dimensional Fund Advisors LP now owns 431,840 shares of the company's stock valued at $4,593,000 after purchasing an additional 133,919 shares during the period. Institutional investors own 56.64% of the company's stock.

Design Therapeutics Company Profile

Design Therapeutics, Inc NASDAQ: DSGN is a clinical-stage biotechnology company developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company's GeneTAC, or gene-targeted activation compound, platform is designed to reactivate genes that have been silenced by these repeat expansions, with the goal of restoring production of beneficial proteins.

The company's research has focused on disorders affecting the nervous system, muscles and eyes.

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