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Twist Bioscience (TWST) Soars 12.5%: Is Further Upside Left in the Stock?

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Twist Bioscience (TWST - Free Report) shares ended the last trading session 12.5% higher at $35.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 56.8% gain over the past four weeks.

Last month, the company announced robust financial results for the fiscal fourth quarter and full-year fiscal 2023. This might have driven the share price rally.

This maker of synthetic DNA for the biotechnology industry is expected to post quarterly loss of $0.80 per share in its upcoming report, which represents a year-over-year change of -8.1%. Revenues are expected to be $67.33 million, up 24.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Twist Bioscience, the consensus EPS estimate for the quarter has been revised 12.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TWST going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Twist Bioscience is part of the Zacks Medical - Biomedical and Genetics industry. Vertex Pharmaceuticals (VRTX - Free Report) , another stock in the same industry, closed the last trading session 0.4% higher at $406.60. VRTX has returned 16% in the past month.

Vertex's consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $4.07. Compared to the company's year-ago EPS, this represents a change of +8.2%. Vertex currently boasts a Zacks Rank of #3 (Hold).

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