Twist Bioscience (NASDAQ:TWST) Price Target Raised to $48.00 at Scotiabank

Twist Bioscience (NASDAQ:TWST) had its price objective upped by Scotiabank from $43.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities research analysts also recently issued reports on TWST. Evercore ISI raised their price objective on shares of Twist Bioscience from $46.00 to $50.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Barclays boosted their price objective on shares of Twist Bioscience from $40.00 to $45.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Robert W. Baird increased their target price on shares of Twist Bioscience from $39.00 to $40.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group raised Twist Bioscience from a neutral rating to a buy rating and lifted their target price for the stock from $25.00 to $45.00 in a research report on Wednesday, January 17th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $42.50.

Twist Bioscience Price Performance

Twist Bioscience stock opened at $41.40 on Monday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -12.32 and a beta of 1.64. The firm has a fifty day moving average price of $34.18 and a two-hundred day moving average price of $31.59. Twist Bioscience has a fifty-two week low of $11.81 and a fifty-two week high of $44.92.

Twist Bioscience (NASDAQ:TWST) last announced its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.05. The firm had revenue of $75.30 million during the quarter, compared to the consensus estimate of $70.70 million. Twist Bioscience had a negative return on equity of 31.61% and a negative net margin of 69.24%. The firm’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 company earned ($1.06) EPS. As a group, sell-side analysts expect that Twist Bioscience will post -3.17 earnings per share for the current year.

Insider Transactions at Twist Bioscience

In related news, SVP Paula Green sold 910 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $37.13, for a total value of $33,788.30. Following the sale, the senior vice president now owns 91,511 shares of the company’s stock, valued at $3,397,803.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Paula Green sold 910 shares of the business’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 $33,788.30. Following the sale, the senior vice president now owns 91,511 shares of the company’s stock, valued at approximately $3,397,803.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick John Finn sold 2,311 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.13, for a total value of $85,807.43. Following the completion of the sale, the chief operating officer now owns 173,895 shares in the company, valued at $6,456,721.35. The disclosure for this sale can be found here. In the last three months, insiders sold 17,415 shares of company stock valued at $614,504. Company insiders own 3.92% of the company’s stock.

Institutional Trading of Twist Bioscience

Several large investors have recently added to or reduced their stakes in TWST. Artisan Partners Limited Partnership boosted its holdings in shares of Twist Bioscience by 111.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company’s stock worth $137,241,000 after acquiring an additional 1,961,621 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Twist Bioscience by 1,496.2% during the third quarter. Invesco Ltd. now owns 831,006 shares of the company’s stock worth $16,836,000 after purchasing an additional 778,944 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Twist Bioscience by 6.3% in the fourth quarter. ARK Investment Management LLC now owns 7,213,257 shares of the company’s stock valued at $265,881,000 after buying an additional 427,274 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Twist Bioscience in the fourth quarter valued at about $11,956,000. Finally, Norges Bank acquired a new position in Twist Bioscience during the 4th quarter worth about $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.