Twist Bioscience price target lowered to $36 from $58 at TD Cowen

TD Cowen analyst Brendan Smith lowered the firm’s price target on Twist Bioscience (TWST) to $36 from $58 and keeps a Buy rating on the shares. The stock has been under pressure following Q3 revenue that was in line with guidance and the narrowing of FY25 guidance as investor hoped for “a clean beat/raise.” The firm, which is trimming near-term estimstes for SynBio, largely offset by consistent NGS growth into next year, now assigns a multiple closer to peer trading multiples to reflect updated growth assumptions.