Brokerages Set 10x Genomics, Inc. (NASDAQ:TXG) PT at $23.86

10x Genomics, Inc. (NASDAQ:TXGGet Free Report) has been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $23.86.

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. UBS Group dropped their target price 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. Citigroup dropped their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a report on Thursday, October 10th. Finally, Barclays decreased their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 1st.

View Our Latest Analysis on TXG

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Assenagon Asset Management S.A. acquired a new stake in 10x Genomics in the 4th quarter worth approximately $26,308,000. ARK Investment Management LLC lifted its holdings in shares of 10x Genomics by 15.4% during the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after buying an additional 1,436,582 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of 10x Genomics during the third quarter worth approximately $27,778,000. FMR LLC lifted its holdings in shares of 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock worth $301,849,000 after buying an additional 357,470 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 10x Genomics by 355.0% during the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after buying an additional 277,355 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Stock Performance

Shares of TXG opened at $14.85 on Friday. The stock has a market capitalization of $1.80 billion, a P/E ratio of -9.71 and a beta of 1.83. The company’s fifty day moving average is $15.05 and its two-hundred day moving average is $17.84. 10x Genomics has a 1 year low of $12.95 and a 1 year high of $51.22.

10x Genomics (NASDAQ:TXGGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm earned ($0.51) EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts predict that 10x Genomics will post -1.43 EPS for the current year.

About 10x Genomics

(Get Free Report

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.

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Analyst Recommendations for 10x Genomics (NASDAQ:TXG)

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