10x Genomics, Inc. (NASDAQ:TXG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

10x Genomics, Inc. (NASDAQ:TXG) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.14.

TXG has been the topic of a number of analyst reports. Stephens restated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. Citigroup lowered their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a research report on Tuesday, September 3rd. Leerink Partners initiated coverage on 10x Genomics in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, UBS Group cut their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

10x Genomics Stock Performance

Shares of TXG opened at $14.35 on Tuesday. The stock has a 50 day simple moving average of $15.19 and a 200 day simple moving average of $18.41. 10x Genomics has a 52-week low of $12.95 and a 52-week high of $55.96. The firm has a market capitalization of $1.74 billion, a PE ratio of -9.38 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. During the same period last year, the business posted ($0.51) earnings per share. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts predict that 10x Genomics will post -1.4 EPS for the current fiscal year.

Institutional Trading of 10x Genomics

Large investors have recently made changes to their positions in the business. Lecap Asset Management Ltd. purchased a new position in shares of 10x Genomics during the 3rd quarter worth about $877,000. Marshall Wace LLP purchased a new stake in 10x Genomics in the 2nd quarter valued at about $689,000. Geode Capital Management LLC boosted its position in 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after buying an additional 42,777 shares during the period. Point72 Asset Management L.P. purchased a new stake in 10x Genomics in the 3rd quarter valued at about $27,778,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in 10x Genomics by 10,124.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock valued at $871,000 after buying an additional 44,347 shares during the period. 84.68% of the stock is currently owned by institutional investors.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.