Genomics firm Twist Bioscience's Momentum To Continue Throughout 2024, Analyst Says
Portfolio Pulse from Vandana Singh
Twist Bioscience Corporation (NASDAQ:TWST) reported a Q2 EPS loss of $(0.79), surpassing expectations and showing significant year-over-year improvement. Sales increased by 25% to $75.3 million, beating consensus. The company also raised its fiscal year 2024 sales forecast to $300 million-$304 million. Analysts from William Blair, Baird, Barclays, and Evercore ISI Group have expressed positive outlooks, with increased price targets, citing ongoing margin growth and revenue increases. TWST shares surged 29.5% to $41.46.
May 03, 2024 | 6:45 pm
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POSITIVE IMPACT
Twist Bioscience reported better-than-expected Q2 results, with a reduced EPS loss and higher sales, leading to an upward revision of FY2024 sales forecasts. Analysts remain positive, raising price targets.
The positive earnings report, coupled with raised sales forecasts and favorable analyst ratings, indicates strong company performance and market confidence, likely driving short-term stock price appreciation.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100