Design Therapeutics, Inc. (NASDAQ:DSGN) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Consensus "Moderate Buy": Six analysts rate Design Therapeutics a Moderate Buy (1 sell, 4 buy, 1 strong buy) with an average 12‑month target of $15.20, and recent coverage includes Oppenheimer (outperform, $18), Jefferies (buy, $15) and RBC (outperform, $14 PT).
• Institutional backing and fundamentals: Institutions own about 56.64% after several funds increased stakes; the stock trades near $12.22 (50‑day MA $10.45, 200‑day MA $8.95) with a market cap ≈ $754M, reported a quarterly EPS of ($0.27) that beat estimates, and analysts forecast -0.91 EPS for the year.

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $15.20.

DSGN has been the topic of a number of recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Oppenheimer initiated coverage on Design Therapeutics in a research report on Wednesday, January 7th. They set an "outperform" rating and a $18.00 price target on the stock. Wall Street Zen raised Design Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Royal Bank Of Canada increased their price target on Design Therapeutics from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group initiated coverage on Design Therapeutics in a research report on Monday, March 16th. They set a "buy" rating and a $15.00 price target on the stock.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in shares of Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company's stock worth $83,000 after buying an additional 2,459 shares in the last quarter. Strs Ohio boosted its position in Design Therapeutics by 11.5% during the fourth quarter. Strs Ohio now owns 25,200 shares of the company's stock valued at $236,000 after purchasing an additional 2,600 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company's stock valued at $48,000 after purchasing an additional 2,618 shares in the last quarter. Torren Management LLC bought a new stake in Design Therapeutics during the fourth quarter valued at about $26,000. Finally, Invesco Ltd. boosted its position in Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company's stock valued at $48,000 after purchasing an additional 3,033 shares in the last quarter. Institutional investors own 56.64% of the company's stock.

Design Therapeutics Stock Down 2.5%

Shares of Design Therapeutics stock opened at $12.22 on Wednesday. The stock's fifty day moving average is $10.45 and its two-hundred day moving average is $8.95. The company has a market capitalization of $753.61 million, a PE ratio of -10.02 and a beta of 1.57. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $12.75.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.11. As a group, research analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current year.

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.

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