Evercore ISI Raises Twist Bioscience (NASDAQ:TWST) Price Target to $50.00

Twist Bioscience (NASDAQ:TWST - Get Free Report) had its price objective hoisted by investment analysts at Evercore ISI from $46.00 to $50.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's target price would indicate a potential upside of 21.33% from the company's current price.

Other research analysts also recently issued reports about the stock. Barclays lifted their target price on shares of Twist Bioscience from $40.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday. The Goldman Sachs Group upgraded shares of Twist Bioscience from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $25.00 to $45.00 in a report on Wednesday, January 17th. Scotiabank lifted their price target on Twist Bioscience from $30.00 to $43.00 and gave the company a "sector outperform" rating in a research report on Monday, February 5th. Finally, Robert W. Baird raised their price objective on Twist Bioscience from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $41.67.

Twist Bioscience Price Performance

TWST stock traded up $9.20 during mid-day trading on Friday, reaching $41.21. 4,457,624 shares of the company traded hands, compared to its average volume of 975,484. Twist Bioscience has a 52-week low of $11.81 and a 52-week high of $43.21. The company has a market capitalization of $2.38 billion, a P/E ratio of -11.25 and a beta of 1.64. The company has a fifty day moving average price of $33.97 and a 200-day moving average price of $30.79.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, topping analysts' consensus estimates of ($0.84) by $0.05. The firm had revenue of $75.30 million for the quarter, compared to analyst estimates of $70.70 million. Twist Bioscience had a negative net margin of 78.44% and a negative return on equity of 32.16%. The business's revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.06) EPS. As a group, analysts forecast that Twist Bioscience will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other Twist Bioscience news, CEO Emily M. Leproust sold 1,487 shares of the business's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $37.43, for a total transaction of $55,658.41. Following the transaction, the chief executive officer now owns 516,409 shares in the company, valued at $19,329,188.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Emily M. Leproust sold 1,487 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $37.43, for a total value of $55,658.41. Following the transaction, the chief executive officer now directly owns 516,409 shares in the company, valued at $19,329,188.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Patrick John Finn sold 2,174 shares of Twist Bioscience stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $30.12, for a total transaction of $65,480.88. Following the sale, the chief operating officer now directly owns 176,206 shares of the company's stock, valued at approximately $5,307,324.72. The disclosure for this sale can be found here. Insiders sold 13,211 shares of company stock valued at $449,573 in the last three months. Corporate insiders own 3.92% of the company's stock.

Institutional Investors Weigh In On Twist Bioscience

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in shares of Twist Bioscience by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 442,504 shares of the company's stock worth $8,965,000 after purchasing an additional 14,511 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Twist Bioscience by 559.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 106,572 shares of the company's stock valued at $2,159,000 after acquiring an additional 90,413 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Twist Bioscience by 121.3% during the third quarter. Dark Forest Capital Management LP now owns 29,451 shares of the company's stock worth $597,000 after purchasing an additional 16,142 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Twist Bioscience during the third quarter valued at $451,000. Finally, Citigroup Inc. boosted its holdings in Twist Bioscience by 94.1% in the third quarter. Citigroup Inc. now owns 264,204 shares of the company's stock valued at $5,353,000 after purchasing an additional 128,098 shares during the last quarter.

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.

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