On July 7, Twist Bioscience rose 5.05% in regular trading, trading at $103.93/share, with turnover of $58.99 million.
On the news front, investment bank Evercore ISI on July 6 downgraded Twist Bioscience from Outperform to In Line, but simultaneously raised its price target sharply from $66 to $102, representing a 54.5% increase. While the rating was lowered, the significant target price upgrade reflects the analyst's reassessment of the company's long-term value potential. According to FactSet, the consensus analyst rating remains Buy with a mean price target of $87.56.
The target price revision follows a period of improving fundamentals. The company's Q2 revenue exceeded expectations with sales of $110.7 million beating estimates, and management raised full-year revenue guidance to $435-440 million versus FactSet estimates of $432.3 million. In June, Canaccord Genuity also initiated coverage with a Buy rating and $90 price target, while earlier in May, Leerink Partners upgraded the stock to Outperform with a $70 target following strong quarterly results.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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