Twist Bioscience (NASDAQ:TWST) Price Target Increased to $48.00 by Analysts at Scotiabank

Twist Bioscience (NASDAQ:TWST) had its price objective raised by investment analysts at Scotiabank from $43.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 11.29% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Barclays lifted their price objective on Twist Bioscience from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. The Goldman Sachs Group raised shares of Twist Bioscience from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $45.00 in a research report on Wednesday, January 17th. Robert W. Baird upped their target price on shares of Twist Bioscience from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Evercore ISI boosted their price objective on shares of Twist Bioscience from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Twist Bioscience currently has an average rating of “Buy” and a consensus price target of $42.50.

Twist Bioscience Stock Down 3.4 %

Shares of Twist Bioscience stock opened at $43.13 on Monday. The firm has a market cap of $2.51 billion, a PE ratio of -12.84 and a beta of 1.64. The company’s fifty day simple moving average is $34.15 and its two-hundred day simple moving average is $31.52. Twist Bioscience has a 12-month low of $11.81 and a 12-month high of $44.92.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.05. The business had revenue of $75.30 million for the quarter, compared to analysts’ expectations of $70.70 million. Twist Bioscience had a negative return on equity of 31.61% and a negative net margin of 69.24%. The business’s revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.06) EPS. As a group, sell-side analysts expect that Twist Bioscience will post -3.17 earnings per share for the current fiscal year.

Insider Activity at Twist Bioscience

In other Twist Bioscience news, CEO Emily M. Leproust sold 4,163 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $37.13, for a total transaction of $154,572.19. Following the completion of the sale, the chief executive officer now directly owns 509,986 shares in the company, valued at approximately $18,935,780.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Emily M. Leproust sold 4,163 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.13, for a total transaction of $154,572.19. Following the completion of the sale, the chief executive officer now owns 509,986 shares of the company’s stock, valued at approximately $18,935,780.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Emily M. Leproust sold 1,487 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $37.43, for a total value of $55,658.41. Following the completion of the sale, the chief executive officer now owns 516,409 shares of the company’s stock, valued at approximately $19,329,188.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,525 shares of company stock worth $758,272. 3.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Twist Bioscience

Institutional investors have recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership grew its stake in Twist Bioscience by 111.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company’s stock valued at $137,241,000 after acquiring an additional 1,961,621 shares in the last quarter. Invesco Ltd. lifted its position in shares of Twist Bioscience by 1,496.2% in the third quarter. Invesco Ltd. now owns 831,006 shares of the company’s stock worth $16,836,000 after buying an additional 778,944 shares in the last quarter. ARK Investment Management LLC boosted its stake in Twist Bioscience by 6.3% during the fourth quarter. ARK Investment Management LLC now owns 7,213,257 shares of the company’s stock valued at $265,881,000 after buying an additional 427,274 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Twist Bioscience during the 4th quarter valued at approximately $11,956,000. Finally, Norges Bank bought a new stake in Twist Bioscience in the 4th quarter worth approximately $10,766,000.

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.