Design Therapeutics (NASDAQ:DSGN) Reaches New 12-Month High – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price reached a new 52-week high on Wednesday . The company traded as high as $12.98 and last traded at $12.9240, with a volume of 99629 shares trading hands. The stock had previously closed at $12.64.

Analysts Set New Price Targets

A number of research firms recently weighed in on DSGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Oppenheimer began coverage on shares of Design Therapeutics in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price for the company. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Jefferies Financial Group began coverage on shares of Design Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, four 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 an average rating of “Moderate Buy” and an average target price of $15.20.

Design Therapeutics Stock Performance

The business’s 50-day moving average price is $10.66 and its 200 day moving average price is $9.16. The company has a market cap of $776.43 million, a P/E ratio of -10.32 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.11. Equities research analysts forecast that Design Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Institutional Trading of Design Therapeutics

Hedge funds have recently modified their holdings of the stock. Torren Management LLC acquired a new stake in shares of Design Therapeutics during the 4th quarter worth about $26,000. Russell Investments Group Ltd. lifted its stake in shares of 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 buying an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Design Therapeutics during the 4th quarter worth about $67,000. AXQ Capital LP acquired a new stake in shares of Design Therapeutics during the 4th quarter worth about $110,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Design Therapeutics during the 4th quarter worth about $131,000. Institutional investors and hedge funds own 56.64% of the company’s stock.

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.