Twist Bioscience (NASDAQ:TWST) PT Raised to $65.00 at TD Cowen

Twist Bioscience (NASDAQ:TWST) had its price target boosted by TD Cowen from $55.00 to $65.00 in a research report released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

TWST has been the topic of several other research reports. Guggenheim began coverage on shares of Twist Bioscience in a research note on Tuesday, June 4th. They set a buy rating and a $53.00 price target on the stock. Scotiabank lifted their target price on Twist Bioscience from $43.00 to $48.00 and gave the stock a sector outperform rating in a research report on Monday, May 6th. Evercore ISI increased their price target on Twist Bioscience from $46.00 to $50.00 and gave the company an outperform rating in a report on Friday, May 3rd. Barclays raised 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. Finally, Robert W. Baird upped their target price on Twist Bioscience from $39.00 to $40.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $46.63.

Twist Bioscience Price Performance

Shares of NASDAQ TWST opened at $49.84 on Thursday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -14.83 and a beta of 1.78. Twist Bioscience has a 1-year low of $14.42 and a 1-year high of $55.26. The business has a 50-day moving average of $40.13 and a 200-day moving average of $36.72.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.05. The firm had revenue of $75.30 million during 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%. Twist Bioscience’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.06) EPS. Research analysts expect that Twist Bioscience will post -3.08 EPS for the current fiscal year.

Insider Activity

In related news, CEO Emily M. Leproust sold 1,132 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $32.74, for a total transaction of $37,061.68. Following the completion of the sale, the chief executive officer now owns 514,149 shares of the company’s stock, valued at approximately $16,833,238.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Twist Bioscience news, CEO Emily M. Leproust sold 4,163 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $37.13, for a total value of $154,572.19. Following the sale, the chief executive officer now directly owns 509,986 shares in the company, valued at $18,935,780.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Emily M. Leproust sold 1,132 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $32.74, for a total transaction of $37,061.68. Following the transaction, the chief executive officer now owns 514,149 shares of the company’s stock, valued at approximately $16,833,238.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,626 shares of company stock worth $713,527. 3.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TWST. Artisan Partners Limited Partnership increased its holdings in shares of 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 purchasing an additional 1,961,621 shares during the period. Invesco Ltd. raised its position in shares of Twist Bioscience by 1,496.2% during the 3rd 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 lifted its stake in shares of Twist Bioscience by 6.3% in the 4th quarter. ARK Investment Management LLC now owns 7,213,257 shares of the company’s stock worth $265,881,000 after acquiring an additional 427,274 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Twist Bioscience in the fourth quarter valued at approximately $11,956,000. Finally, Norges Bank bought a new stake in Twist Bioscience during the fourth 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.