Twist Bioscience (NASDAQ:TWST) Price Target Raised to $62.00

Twist Bioscience (NASDAQ:TWST) had its price objective hoisted by Scotiabank from $54.00 to $62.00 in a research note released on Tuesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other research analysts have also issued reports about the stock. TD Cowen reissued a “buy” rating and set a $58.00 price objective on shares of Twist Bioscience in a report on Tuesday, November 26th. Barclays decreased their price objective on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Wolfe Research initiated coverage on shares of Twist Bioscience in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective for the company. Robert W. Baird raised their price objective on shares of Twist Bioscience from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Leerink Partners lifted their price target on shares of Twist Bioscience from $45.00 to $48.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Twist Bioscience currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Twist Bioscience Trading Up 0.1 %

TWST opened at $53.70 on Tuesday. The company has a fifty day simple moving average of $48.84 and a 200 day simple moving average of $46.32. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -14.92 and a beta of 1.87. Twist Bioscience has a twelve month low of $27.41 and a twelve month high of $60.90.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings results on Monday, February 3rd. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.09. The business had revenue of $88.70 million during the quarter, compared to analyst estimates of $86.96 million. Twist Bioscience had a negative net margin of 66.69% and a negative return on equity of 32.27%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned ($0.75) EPS. On average, analysts forecast that Twist Bioscience will post -2.27 earnings per share for the current fiscal year.

Insider Activity at Twist Bioscience

In related news, CEO Emily M. Leproust sold 7,968 shares of Twist Bioscience stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $48.00, for a total value of $382,464.00. Following the sale, the chief executive officer now directly owns 581,584 shares in the company, valued at $27,916,032. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dennis Cho sold 806 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $49.35, for a total transaction of $39,776.10. Following the sale, the insider now owns 112,221 shares in the company, valued at $5,538,106.35. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,002 shares of company stock worth $2,851,681 in the last ninety days. 3.01% of the stock is owned by insiders.

Institutional Trading of Twist Bioscience

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC raised its position in shares of Twist Bioscience by 4.4% during the 4th quarter. ARK Investment Management LLC now owns 5,595,865 shares of the company’s stock worth $260,040,000 after buying an additional 237,772 shares in the last quarter. State Street Corp raised its position in shares of Twist Bioscience by 19.9% during the 3rd quarter. State Street Corp now owns 3,167,353 shares of the company’s stock worth $143,101,000 after buying an additional 526,028 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Twist Bioscience by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,367,759 shares of the company’s stock worth $61,807,000 after buying an additional 26,145 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Twist Bioscience during the 3rd quarter worth about $43,992,000. Finally, Wellington Management Group LLP raised its position in shares of Twist Bioscience by 188.5% during the 3rd quarter. Wellington Management Group LLP now owns 797,737 shares of the company’s stock worth $36,042,000 after buying an additional 521,272 shares in the last quarter.

Twist Bioscience Company Profile

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.