Twist Bioscience price target raised to $32 from $26 at Evercore ISI

Evercore ISI analyst Vijay Kumar raised the firm’s price target on Twist Bioscience to $32 from $26 and keeps an Outperform rating on the shares after Twist beat on revenue, gross margins and orders in Q4 and guided to about 17% revenue growth at the mid-point of its range for FY24. Following the report, the firm sees “quite a stark picture” with revenue performance better than the industry, improving operational execution and potential for lower cash burn, the analyst tells investors.