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

by · The Cerbat Gem

Design Therapeutics (NASDAQ:DSGN – Get Free Report) was upgraded by equities research analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

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

Check Out Our Latest Analysis on DSGN

Design Therapeutics Stock Up 9.3%

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

Design Therapeutics (NASDAQ:DSGN – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. On average, sell-side analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Design Therapeutics during the 2nd quarter valued at $43,000. Russell Investments Group Ltd. raised its holdings in shares of 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 acquiring an additional 2,618 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after acquiring an additional 3,033 shares in the last quarter. Velan Capital Investment Management LP acquired a new stake in Design Therapeutics during the first quarter valued at $54,000. Finally, Jane Street Group LLC purchased a new position in Design Therapeutics in the first quarter valued at about $70,000. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Company Profile

(Get Free Report)

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.

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