Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Design Therapeutics has a “Moderate Buy” consensus rating from eight analysts: six buys, one strong buy, and one sell. The average 12-month price target is $16.50, compared with a recent share price of $15.14.
• The company reported quarterly EPS of -$0.32, beating the consensus estimate of -$0.34; analysts expect a full-year loss of approximately $1.41 per share.
• Institutional ownership is substantial at 56.64%, with BlackRock and several life-sciences investors establishing significant positions during recent quarters.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

Several research firms have commented on DSGN. Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a report on Friday, July 17th. Cantor Fitzgerald began coverage on shares of Design Therapeutics in a report on Tuesday, May 12th. They issued an "overweight" rating for the company. Finally, Wall Street Zen upgraded shares of Design Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th.

Design Therapeutics Stock Performance

Shares of DSGN opened at $15.14 on Friday. The firm has a market cap of $947.46 million, a price-to-earnings ratio of -12.83 and a beta of 1.66. Design Therapeutics has a fifty-two week low of $5.28 and a fifty-two week high of $17.25. The firm has a 50 day moving average price of $14.12 and a 200-day moving average price of $12.51.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. As a group, equities research analysts predict that Design Therapeutics will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On Design Therapeutics

Several institutional investors have recently modified their holdings of DSGN. BlackRock Inc. bought a new position in Design Therapeutics during the second quarter valued at approximately $38,491,000. Trails Edge Capital Partners LP bought a new stake in Design Therapeutics in the 2nd quarter worth approximately $28,958,550. Frazier Life Sciences Management L.P. purchased a new stake in Design Therapeutics during the 2nd quarter valued at $26,189,000. Vivo Capital LLC bought a new position in shares of Design Therapeutics during the 4th quarter valued at $15,129,000. Finally, Almitas Capital LLC purchased a new position in shares of Design Therapeutics in the 2nd quarter worth $14,859,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

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.

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