Canaccord Genuity Group Increases Twist Bioscience (NASDAQ:TWST) Price Target to $120.00

Key Points

• Canaccord Genuity Group raised its price target on Twist Bioscience from $90 to $120 and kept a buy rating, implying about 32.8% upside from the current price.
• Other analysts have also turned more positive on TWST, with several recent target hikes; overall, the stock now has a Moderate Buy consensus and an average price target of $87.30.
• Twist Bioscience recently reported revenue growth of 19.3% year over year, but it still missed EPS expectations and posted a loss; meanwhile, executives including the CEO and CFO have sold shares in recent weeks.

Twist Bioscience (NASDAQ:TWST - Get Free Report) had its target price increased by equities research analysts at Canaccord Genuity Group from $90.00 to $120.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 32.82% from the stock's current price.

Several other research analysts also recently weighed in on TWST. TD Cowen upped their target price on shares of Twist Bioscience from $68.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Robert W. Baird lifted their price target on shares of Twist Bioscience from $50.00 to $65.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Leerink Partners set a $80.00 price objective on shares of Twist Bioscience in a report on Friday, May 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Twist Bioscience in a research report on Wednesday, June 24th. Finally, Guggenheim raised their target price on Twist Bioscience from $60.00 to $107.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Twist Bioscience presently has an average rating of "Moderate Buy" and a consensus price target of $87.30.

Twist Bioscience Price Performance

TWST stock opened at $90.35 on Tuesday. The firm has a market cap of $5.63 billion, a P/E ratio of -67.93 and a beta of 2.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.42 and a current ratio of 2.70. Twist Bioscience has a 1 year low of $23.30 and a 1 year high of $105.47. The stock has a 50-day simple moving average of $74.97 and a 200-day simple moving average of $56.51.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The company had revenue of $110.72 million for the quarter, compared to analyst estimates of $107.64 million. During the same period last year, the firm posted ($0.66) earnings per share. The business's revenue was up 19.3% on a year-over-year basis. On average, equities analysts predict that Twist Bioscience will post -2.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Twist Bioscience

In related news, CFO Adam Laponis sold 2,399 shares of Twist Bioscience stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $94.33, for a total value of $226,297.67. Following the completion of the sale, the chief financial officer owned 110,276 shares in the company, valued at approximately $10,402,335.08. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Emily M. Leproust sold 18,880 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $95.00, for a total transaction of $1,793,600.00. Following the transaction, the chief executive officer owned 824,039 shares in the company, valued at $78,283,705. This trade represents a 2.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 64,382 shares of company stock valued at $5,101,215. Corporate insiders own 3.08% of the company's stock.

Hedge Funds Weigh In On Twist Bioscience

Large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Twist Bioscience in the third quarter valued at about $28,000. Western Wealth Management LLC bought a new position in Twist Bioscience during the 1st quarter worth approximately $31,000. Strs Ohio acquired a new position in shares of Twist Bioscience in the 1st quarter worth approximately $33,000. Strategic Advocates LLC grew its position in shares of Twist Bioscience by 562.7% in the 4th quarter. Strategic Advocates LLC now owns 1,067 shares of the company's stock worth $34,000 after acquiring an additional 906 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Twist Bioscience by 68.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company's stock valued at $44,000 after acquiring an additional 571 shares during the last quarter.

About Twist Bioscience

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist's offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.

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