Twist Bioscience (TWST) PT Raised to $58 at Barclays

Barclays analyst Luke Sergott raised the price target on Twist Bioscience (NASDAQ: TWST) to $58.00 (from $52.00) while maintaining a Overweight rating.

The analyst comments "So rolling it all together, we see the momentum continuing to build, particularly on the Express portfolio and NGS tools as those liquid biopsy tests ramp and commercialize, and GMs can still come in better than guidance (albeit at a more moderate pace). Outside of the core portfolio, we look for potential technology milestones and pilot commercial programs on DNA storage this year. Cash burn remains minimal despite all of the investments needed to keep the business’ momentum, and we see little risk that mgmt will need to tap the public markets again over the next couple of years. As such, our thesis holds and we recommend buying the dips. On valuation, we increase our PT to $58 based on 8x EV/Revs on our ’25 Rev estimate of $377m vs. ~8x on $376m prior."

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