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Guggenheim initiated coverage of Twist Bioscience (NASDAQ:TWST) with a buy rating, citing its DNA synthesis platform.
The investment bank said Twist’s proprietary silicon chip DNA synthesis platform gives it competitive advantages in terms of cost, speed and quality. It noted that Twist has shown considerable growth in the next-generation sequencing market and seems positioned to expand in the coming years.
“In our view, TWST has done a remarkable job of identifying adjacencies to address new areas of demand and acquire new customer segments, which further supports revenue growth from a diverse customer base,” Guggenheim said in its note.
It added that while the company still wasn’t out of the woods yet on profitability, it believes the stock’s risk/reward “is quite compelling.”
Guggenheim set its price target for the stock at $53.
