Design Therapeutics (NASDAQ:DSGN) Upgraded to “Strong-Buy” at Leerink Partnrs

Leerink Partnrs upgraded shares of Design Therapeutics (NASDAQ:DSGN) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other equities analysts have also weighed in on DSGN. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $6.00 to $13.00 in a report on Thursday, November 20th. Leerink Partners set a $14.00 target price on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday. Craig Hallum began coverage on shares of Design Therapeutics in a research note on Wednesday. They set a “buy” rating and a $15.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Design Therapeutics Stock Performance

DSGN opened at $9.77 on Wednesday. Design Therapeutics has a fifty-two week low of $2.60 and a fifty-two week high of $10.00. The firm has a 50-day moving average of $7.14 and a 200 day moving average of $5.44. The firm has a market cap of $556.50 million, a P/E ratio of -8.21 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Equities research analysts predict that Design Therapeutics will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Woodline Partners LP bought a new stake in shares of Design Therapeutics during the 1st quarter valued at about $2,492,000. RA Capital Management L.P. purchased a new stake in Design Therapeutics in the third quarter valued at approximately $3,582,000. Nuveen LLC bought a new stake in Design Therapeutics during the first quarter valued at approximately $568,000. Wellington Management Group LLP bought a new stake in Design Therapeutics during the first quarter valued at approximately $546,000. Finally, Driehaus Capital Management LLC grew its stake in Design Therapeutics by 17.7% in the 1st quarter. Driehaus Capital Management LLC now owns 913,399 shares of the company’s stock worth $3,526,000 after buying an additional 137,317 shares in the last quarter. Hedge funds and other institutional investors 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.