Design Therapeutics (NASDAQ:DSGN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Design Therapeutics from a “sell” to a “hold” rating, adding to a mixed but generally positive analyst backdrop for the stock.
• Other firms have been more upbeat: Royal Bank of Canada, Piper Sandler, Oppenheimer, and Jefferies all maintained or initiated buy/outperform/overweight views, while the consensus rating remains Moderate Buy with a $16.50 target price.
• The company reported a smaller-than-expected quarterly loss of $(0.29) EPS versus the $(0.36) estimate, and shares were trading at $14.22, near the upper end of their 52-week range.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday.

Several other analysts also recently commented on DSGN. Royal Bank Of Canada boosted their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Design Therapeutics in a report on Monday, April 20th. Piper Sandler reaffirmed an "overweight" rating and issued a $20.00 price objective on shares of Design Therapeutics in a research note on Wednesday, April 29th. Oppenheimer upped their price objective on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Finally, Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a research report on Monday, March 16th. They set a "buy" rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Design Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

Design Therapeutics Price Performance

Shares of DSGN stock opened at $14.22 on Friday. Design Therapeutics has a fifty-two week low of $3.11 and a fifty-two week high of $17.25. The stock's 50-day moving average is $11.62 and its two-hundred day moving average is $9.88. The firm has a market cap of $888.18 million, a P/E ratio of -11.85 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.07. As a group, research analysts expect that Design Therapeutics will post -1.39 EPS for the current year.

Institutional Trading of Design Therapeutics

Several large investors have recently modified their holdings of the company. Torren Management LLC acquired a new position in Design Therapeutics in the 4th quarter valued at $26,000. Russell Investments Group Ltd. lifted its position in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company's stock worth $48,000 after acquiring an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Design Therapeutics during the fourth quarter valued at about $67,000. AXQ Capital LP bought a new stake in Design Therapeutics during the fourth quarter valued at about $110,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Design Therapeutics in the fourth quarter valued at about $131,000. 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. 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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