Royal Bank Of Canada Forecasts Strong Price Appreciation for Design Therapeutics (NASDAQ:DSGN) Stock

Key Points

• Royal Bank of Canada raised its price target on Design Therapeutics from $13 to $14 and kept an "outperform" rating, implying roughly a 30.9% upside from the current share price.
• Analyst coverage is mixed but leans positive: the consensus rating is "Moderate Buy" with an average price target of $15.25, including higher initiations from Oppenheimer ($18) and Craig Hallum ($15) while Weiss Ratings remains a sell.
• Design Therapeutics is a biopharma focused on small-molecule therapies for genetic diseases via its GeneTAC platform; DSGN opened at $10.70 with a market cap of about $609M, a 12‑month range of $2.60–$11.14, and roughly 56.6% institutional ownership.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) had its price objective hoisted by Royal Bank Of Canada from $13.00 to $14.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 30.90% from the stock's current price.

A number of other research firms have also recently issued reports on DSGN. Oppenheimer began coverage on Design Therapeutics in a report on Wednesday, January 7th. They issued an "outperform" rating and a $18.00 price objective for the company. Leerink Partners set a $14.00 target price on shares of Design Therapeutics and gave the stock an "outperform" rating in a report on Wednesday, December 3rd. Craig Hallum began coverage on Design Therapeutics in a research note on Wednesday, December 3rd. They set a "buy" rating and a $15.00 price objective on the stock. Wall Street Zen raised shares of Design Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.25.

Design Therapeutics Trading Up 3.1%

Shares of DSGN stock opened at $10.70 on Tuesday. The firm has a market capitalization of $609.19 million, a PE ratio of -8.99 and a beta of 1.63. The firm has a fifty day simple moving average of $9.97 and a two-hundred day simple moving average of $8.23. Design Therapeutics has a 12 month low of $2.60 and a 12 month high of $11.14.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSGN. Torren Management LLC acquired a new position in shares of Design Therapeutics during the 4th quarter valued at $26,000. Russell Investments Group Ltd. raised its holdings in Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company's stock worth $48,000 after purchasing an additional 2,618 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Design Therapeutics in the fourth quarter worth approximately $67,000. AXQ Capital LP acquired a new stake in Design Therapeutics during the 4th quarter valued at $110,000. Finally, Los Angeles Capital Management LLC acquired a new position in Design Therapeutics in the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 56.64% of the company's stock.

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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