Design Therapeutics, Inc. (NASDAQ:DSGN) Receives $6.60 Average Price Target from Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.60.

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Piper Sandler raised Design Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $6.00 to $12.00 in a research note on Tuesday, May 7th. Finally, Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Design Therapeutics in a research note on Wednesday, March 20th.

Hedge Funds Weigh In On Design Therapeutics

Several institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in Design Therapeutics by 353.1% in the third quarter. Barclays PLC now owns 71,678 shares of the company’s stock valued at $170,000 after buying an additional 55,858 shares during the period. Algert Global LLC boosted its position in shares of Design Therapeutics by 83.3% in the 3rd quarter. Algert Global LLC now owns 35,620 shares of the company’s stock worth $84,000 after purchasing an additional 16,190 shares during the last quarter. Corton Capital Inc. grew its stake in shares of Design Therapeutics by 56.6% during the third quarter. Corton Capital Inc. now owns 27,134 shares of the company’s stock worth $64,000 after purchasing an additional 9,811 shares during the period. RTW Investments LP increased its holdings in Design Therapeutics by 60.8% in the third quarter. RTW Investments LP now owns 2,512,986 shares of the company’s stock valued at $5,931,000 after purchasing an additional 949,955 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Design Therapeutics by 38,433.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock valued at $31,000 after buying an additional 11,530 shares during the period. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Performance

Shares of DSGN opened at $3.35 on Friday. The business’s 50-day moving average price is $3.94 and its 200 day moving average price is $3.24. The stock has a market capitalization of $189.24 million, a P/E ratio of -3.19 and a beta of 1.87. Design Therapeutics has a 1-year low of $1.94 and a 1-year high of $8.31.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.08. On average, research analysts predict that Design Therapeutics will post -1.02 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.