Twist Bioscience price target lowered to $33 from $40 at JPMorgan

JPMorgan lowered the firm’s price target on Twist Bioscience (TWST) to $33 from $40 and keeps an Underweight rating on the shares. The company reported a fiscal Q2 beat on sales and gross margins, driven by strength across all segments, the analyst tells investors in a research note. The firm says that while it appreciates Twist’s decision to spin out the DNA data storage business and move forward the EBITDA breakeven targets to fiscal 2026, it continues to view the stock’s risk/reward as skewed to the downside relative to other areas of its coverage.