Design Therapeutics (NASDAQ:DSGN) Price Target Raised to $14.00

Design Therapeutics (NASDAQ:DSGN) had its target price increased by stock analysts at Royal Bank Of Canada from $13.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 30.90% from the company’s previous close.

A number of other research firms also recently weighed in on DSGN. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Oppenheimer initiated coverage on Design Therapeutics in a research note 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 Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Finally, Craig Hallum started coverage on Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Design Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $15.25.

Design Therapeutics Stock Up 3.1%

NASDAQ DSGN opened at $10.70 on Tuesday. The company has a market capitalization of $609.19 million, a PE ratio of -8.99 and a beta of 1.63. Design Therapeutics has a 12-month low of $2.60 and a 12-month high of $11.14. The firm’s 50 day moving average is $9.97 and its 200-day moving average is $8.23.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vivo Capital LLC purchased a new stake in shares of Design Therapeutics in the fourth quarter valued at about $15,129,000. RA Capital Management L.P. raised its position in Design Therapeutics by 207.2% in the 4th quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after purchasing an additional 985,682 shares during the last quarter. Woodline Partners LP purchased a new position in Design Therapeutics in the 1st quarter valued at $2,492,000. Baker BROS. Advisors LP grew its stake in shares of Design Therapeutics by 30.4% during the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after purchasing an additional 520,217 shares during the period. Finally, Invesco Ltd. grew its stake in Design Therapeutics by 1,995.8% in the 4th quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock valued at $2,868,000 after acquiring an additional 291,168 shares during the last quarter. 56.64% of the stock is owned by hedge funds and other 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.