Analysts Set 10x Genomics, Inc. (NASDAQ:TXG) Price Target at $29.19

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $29.19.

Several brokerages have commented on TXG. Stephens reiterated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Morgan Stanley reduced their target price on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. The Goldman Sachs Group lowered their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays reduced their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st.

10x Genomics Stock Performance

Shares of NASDAQ:TXG opened at $15.87 on Friday. The business has a fifty day moving average of $16.25 and a 200-day moving average of $19.23. 10x Genomics has a twelve month low of $12.95 and a twelve month high of $57.90.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $158.84 million. During the same quarter last year, the business posted ($0.51) earnings per share. 10x Genomics’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts forecast that 10x Genomics will post -1.4 earnings per share for the current year.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in 10x Genomics by 604.9% in the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after purchasing an additional 86,967 shares during the period. Lecap Asset Management Ltd. bought a new stake in shares of 10x Genomics in the third quarter valued at about $877,000. Marshall Wace LLP acquired a new position in shares of 10x Genomics in the second quarter valued at about $689,000. Benjamin F. Edwards & Company Inc. increased its position in 10x Genomics by 10,124.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after acquiring an additional 44,347 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in 10x Genomics in the 3rd quarter worth about $27,778,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.