Twist Bioscience (NASDAQ:TWST) Price Target Raised to $56.00

Twist Bioscience (NASDAQ:TWST) had its target price upped by Evercore ISI from $52.00 to $56.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

TWST has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on Twist Bioscience from $28.00 to $35.00 and gave the company an underweight rating in a research report on Monday, August 5th. Guggenheim started coverage on Twist Bioscience in a report on Tuesday, June 4th. They issued a buy rating and a $53.00 price objective on the stock. TD Cowen increased their price objective on Twist Bioscience from $55.00 to $65.00 and gave the company a buy rating in a report on Thursday, June 13th. Robert W. Baird increased their price objective on Twist Bioscience from $40.00 to $46.00 and gave the company an outperform rating in a report on Monday, August 5th. Finally, Barclays dropped their price objective on Twist Bioscience from $60.00 to $55.00 and set an overweight rating on the stock in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $51.63.

Twist Bioscience Price Performance

TWST stock opened at $42.79 on Tuesday. The firm has a market capitalization of $2.49 billion, a P/E ratio of -12.74 and a beta of 1.76. The business’s 50-day moving average is $45.53 and its two-hundred day moving average is $43.56. Twist Bioscience has a 1 year low of $14.42 and a 1 year high of $60.90.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.71). The company had revenue of $81.50 million during the quarter, compared to analyst estimates of $77.40 million. Twist Bioscience had a negative net margin of 74.63% and a negative return on equity of 32.17%. Twist Bioscience’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the prior year, the business earned ($1.01) EPS. On average, analysts expect that Twist Bioscience will post -3.13 EPS for the current year.

Insider Buying and Selling

In related news, CEO Emily M. Leproust sold 1,730 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $46.94, for a total transaction of $81,206.20. Following the transaction, the chief executive officer now owns 495,523 shares in the company, valued at approximately $23,259,849.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Emily M. Leproust sold 1,730 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $46.94, for a total transaction of $81,206.20. Following the transaction, the chief executive officer now owns 495,523 shares in the company, valued at approximately $23,259,849.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Cho sold 709 shares of Twist Bioscience stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $39.93, for a total value of $28,310.37. Following the completion of the transaction, the insider now owns 78,996 shares in the company, valued at $3,154,310.28. The disclosure for this sale can be found here. Insiders have sold 15,348 shares of company stock worth $673,091 in the last quarter. 3.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in shares of Twist Bioscience by 12.1% in the 1st quarter. Baillie Gifford & Co. now owns 1,227,528 shares of the company’s stock valued at $42,116,000 after purchasing an additional 132,770 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Twist Bioscience by 1,021.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 673,057 shares of the company’s stock valued at $33,168,000 after purchasing an additional 613,057 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of Twist Bioscience by 720.7% in the 2nd quarter. Fred Alger Management LLC now owns 654,877 shares of the company’s stock valued at $32,272,000 after purchasing an additional 575,080 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Twist Bioscience by 63.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 388,643 shares of the company’s stock valued at $19,152,000 after purchasing an additional 150,260 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Twist Bioscience by 74.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 331,373 shares of the company’s stock valued at $16,330,000 after buying an additional 141,557 shares during the period.

About Twist Bioscience

Twist Bioscience Corporation engages in the manufacture and sale of synthetic DNA-based products. The company offers synthetic genes and gene fragments used in product development for therapeutics, diagnostics, chemicals/materials, food/agriculture, data storage, and various applications within academic research by biotech, pharma, industrial chemical, and agricultural companies, as well as academic labs; Oligo pools used in targeted NGS, CRISPR gene editing, mutagenesis experiments, DNA origami, DNA computing, data storage in DNA, and other applications; and immunoglobulin G proteins for customers focused on the pursuit of drug discovery and development.