Barclays Raises Twist Bioscience (NASDAQ:TWST) Price Target to $60.00

Twist Bioscience (NASDAQ:TWST) had its target price boosted by Barclays from $45.00 to $60.00 in a research report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on TWST. Guggenheim started coverage on Twist Bioscience in a research note on Tuesday, June 4th. They issued a buy rating and a $53.00 price target for the company. Robert W. Baird upped their price objective on Twist Bioscience from $39.00 to $40.00 and gave the company an outperform rating in a report on Friday, May 3rd. Scotiabank upped their price objective on Twist Bioscience from $43.00 to $48.00 and gave the company a sector outperform rating in a report on Monday, May 6th. TD Cowen upped their price objective on Twist Bioscience from $55.00 to $65.00 and gave the company a buy rating in a report on Thursday, June 13th. Finally, Evercore ISI boosted their target price on Twist Bioscience from $46.00 to $50.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $48.50.

Twist Bioscience Price Performance

Twist Bioscience stock opened at $49.28 on Friday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -14.67 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 fifty day moving average price of $43.84 and a 200-day moving average price of $38.39.

Twist Bioscience (NASDAQ:TWST) last issued its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.05. The company had revenue of $75.30 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.06) EPS. On average, equities research analysts anticipate that Twist Bioscience will post -3.08 earnings per share for the current fiscal year.

Insider Transactions at Twist Bioscience

In related news, CEO Emily M. Leproust sold 4,163 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.13, for a total transaction of $154,572.19. Following the completion of the transaction, the chief executive officer now owns 509,986 shares in the company, valued at $18,935,780.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Twist Bioscience news, CEO Emily M. Leproust sold 4,163 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 $154,572.19. Following the completion of the transaction, the chief executive officer now owns 509,986 shares in the company, valued at $18,935,780.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emily M. Leproust sold 2,408 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $51.33, for a total transaction of $123,602.64. Following the completion of the transaction, the chief executive officer now owns 507,578 shares of the company’s stock, valued at approximately $26,053,978.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,426 shares of company stock valued at $777,966. 3.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Twist Bioscience

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