Shares of 10x Genomics, Inc. (NASDAQ:TXG – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.86.
A number of research firms recently commented on TXG. Barclays decreased their price objective on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Citigroup dropped their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley dropped their price objective on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, January 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a report on Thursday, October 10th.
View Our Latest Research Report on TXG
10x Genomics Stock Performance
10x Genomics (NASDAQ:TXG – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The business had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. During the same period in the prior year, the business earned ($0.51) earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. On average, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.
Institutional Investors Weigh In On 10x Genomics
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV increased its stake in shares of 10x Genomics by 38.8% during the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after purchasing an additional 902 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after purchasing an additional 1,012 shares in the last quarter. Blue Trust Inc. grew its stake in 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after acquiring an additional 1,025 shares during the period. GAMMA Investing LLC grew its stake in 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after acquiring an additional 1,265 shares during the period. Finally, Sound Income Strategies LLC grew its stake in 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after acquiring an additional 1,330 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.
10x Genomics Company Profile
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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