10x Genomics, Inc. (NASDAQ:TXG) Receives $23.86 Consensus PT from Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.86.

A number of research firms have recently commented on TXG. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Citigroup lowered their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays reduced their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday, January 18th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 1,265 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in 10x Genomics during the third quarter worth $35,000. Blue Trust Inc. boosted its stake in shares of 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares during the period. Sound Income Strategies LLC purchased a new position in shares of 10x Genomics in the third quarter valued at approximately $46,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in 10x Genomics in the fourth quarter worth approximately $52,000. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Stock Performance

Shares of TXG opened at $14.85 on Friday. The firm’s 50 day moving average price is $15.05 and its two-hundred day moving average price is $17.84. The firm has a market cap of $1.80 billion, a P/E ratio of -9.71 and a beta of 1.83. 10x Genomics has a twelve month low of $12.95 and a twelve month high of $51.22.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (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 firm had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. During the same period in the prior year, the firm posted ($0.51) earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

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.