Scotiabank Forecasts Strong Price Appreciation for Twist Bioscience (NASDAQ:TWST) Stock

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

Several other research firms also recently weighed in on TWST. Leerink Partners lifted their target price on shares of Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Robert W. Baird lifted their target price on shares of Twist Bioscience from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday. TD Cowen reissued a “buy” rating and issued a $58.00 target price on shares of Twist Bioscience in a research report on Tuesday, November 26th. Barclays dropped their target price on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Finally, Wolfe Research began coverage on shares of Twist Bioscience in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Twist Bioscience has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Twist Bioscience Price Performance

Shares of TWST opened at $53.70 on Tuesday. The firm’s 50 day moving average is $48.84 and its 200-day moving average is $46.32. The stock has a market capitalization of $3.19 billion, a P/E ratio of -14.92 and a beta of 1.87. Twist Bioscience has a 12-month low of $27.41 and a 12-month high of $60.90.

Twist Bioscience (NASDAQ:TWST) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.09. The company had revenue of $88.70 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.75) EPS. As a group, equities research analysts forecast that Twist Bioscience will post -2.27 EPS for the current fiscal year.

Insider Buying and Selling at Twist Bioscience

In other Twist Bioscience news, CEO Emily M. Leproust sold 5,200 shares of Twist Bioscience stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $49.35, for a total value of $256,620.00. Following the completion of the sale, the chief executive officer now directly owns 667,318 shares in the company, valued at $32,932,143.30. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Cho sold 806 shares of Twist Bioscience stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $49.35, for a total transaction of $39,776.10. Following the completion of the sale, the insider now owns 112,221 shares of the company’s stock, valued at $5,538,106.35. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,002 shares of company stock worth $2,851,681 over the last ninety days. 3.01% of the stock is currently owned by insiders.

Institutional Trading of Twist Bioscience

Institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Twist Bioscience by 215.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,314 shares of the company’s stock worth $1,324,000 after buying an additional 20,035 shares during the last quarter. Barclays PLC lifted its stake in shares of Twist Bioscience by 214.8% in the third quarter. Barclays PLC now owns 153,039 shares of the company’s stock worth $6,913,000 after buying an additional 104,420 shares during the last quarter. FMR LLC lifted its stake in shares of Twist Bioscience by 6.0% in the third quarter. FMR LLC now owns 218,561 shares of the company’s stock worth $9,875,000 after buying an additional 12,327 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Twist Bioscience in the fourth quarter worth $1,059,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Twist Bioscience by 128.1% in the third quarter. BNP Paribas Financial Markets now owns 38,032 shares of the company’s stock worth $1,718,000 after buying 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.