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

Twist Bioscience (NASDAQ:TWST) had its target price raised by Scotiabank from $54.00 to $62.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

TWST has been the subject of several other reports. Wolfe Research started coverage on Twist Bioscience in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. TD Cowen reaffirmed a “buy” rating and issued a $58.00 target price on shares of Twist Bioscience in a report on Tuesday, November 26th. Barclays cut their price target on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Leerink Partners boosted their price objective on shares of Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird increased their target price on Twist Bioscience from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Tuesday. 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Twist Bioscience Price Performance

Shares of NASDAQ TWST opened at $52.02 on Tuesday. Twist Bioscience has a 1 year low of $27.41 and a 1 year high of $60.90. The firm has a 50-day moving average of $48.63 and a 200 day moving average of $46.21. The stock has a market cap of $3.09 billion, a P/E ratio of -14.45 and a beta of 1.87.

Twist Bioscience (NASDAQ:TWST) last released its earnings results on Monday, February 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.09. The firm 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) earnings per share. Research analysts expect that Twist Bioscience will post -2.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Paula Green sold 1,347 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $48.00, for a total value of $64,656.00. Following the completion of the sale, the senior vice president now directly owns 114,147 shares of the company’s stock, valued at approximately $5,479,056. This represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Chess sold 3,600 shares of Twist Bioscience stock in a transaction on Monday, November 11th. The shares were sold at an average price of $47.26, for a total transaction of $170,136.00. Following the transaction, the director now owns 21,641 shares in the company, valued at approximately $1,022,753.66. This trade represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,707 shares of company stock valued at $2,343,623. 3.01% of the stock is owned by insiders.

Institutional Trading of Twist Bioscience

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in shares of Twist Bioscience by 215.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,314 shares of the company’s stock valued at $1,324,000 after purchasing an additional 20,035 shares in the last quarter. Barclays PLC grew its holdings in Twist Bioscience by 214.8% during the 3rd quarter. Barclays PLC now owns 153,039 shares of the company’s stock valued at $6,913,000 after buying an additional 104,420 shares in the last quarter. FMR LLC increased its stake in Twist Bioscience by 6.0% in the 3rd quarter. FMR LLC now owns 218,561 shares of the company’s stock worth $9,875,000 after acquiring an additional 12,327 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Twist Bioscience during the 4th quarter worth approximately $1,059,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Twist Bioscience by 128.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 38,032 shares of the company’s stock valued at $1,718,000 after acquiring an additional 21,357 shares during 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.