Design Therapeutics price target raised to $21 from $18 at Oppenheimer

Oppenheimer raised the firm’s price target on Design Therapeutics (DSGN) to $21 from $18 and keeps an Outperform rating on the shares. The firm hosted management to discuss the recent RESTORE-FA update on trial design and regulatory path scenarios. Among the key takeaways, Oppenheimer highlights: management will use RESTORE-FA data to zero in on potential surrogate biomarker for AA and/or a clinical endpoint for traditional approval; DT-216P2 PK supports dosing levels greater than 1mpk without safety concerns, and for greater than 1mpk evaluation a 4wk trial isn’t required prior to 12wk trial; RESTORE-FA could potentially be the first trial correlating continuous increased endogenous FXN levels over time and clinical endpoints.