Twist Bioscience price target raised to $25 from $19 at JPMorgan

JPMorgan analyst Rachel Vatnsdal raised the firm’s price target on Twist Bioscience to $25 from $19 and keeps an Underweight rating on the shares. The company’s fiscal Q1 results and updated fiscal 2024 were solid, but there remains a concern around visibility into the 55%-60% gross margin target range, especially considering Express Genes is in the early days of launch during what is an uncertain macro backdrop, the analyst tells investors in a research note. As such, the firm continues to see the stock’s risk/reward as skewed to the downside following the recent share price run-up.