10x Genomics, Inc. (NASDAQ:TXG) Receives $25.14 Average PT from Brokerages

10x Genomics, Inc. (NASDAQ:TXG) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $25.14.

Several research analysts recently commented on TXG shares. UBS Group decreased their target price on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Citigroup cut their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Stephens restated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Finally, Canaccord Genuity Group dropped their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 10th.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $15.92 on Tuesday. 10x Genomics has a 52-week low of $12.95 and a 52-week high of $54.72. The company has a fifty day moving average of $15.12 and a 200-day moving average of $18.19. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -10.41 and a beta of 1.83.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. The company had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. 10x Genomics’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) EPS. On average, equities research analysts forecast that 10x Genomics will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently added to or reduced their stakes in the stock. Lecap Asset Management Ltd. purchased a new position in shares of 10x Genomics in the 3rd quarter worth about $877,000. Geode Capital Management LLC raised its holdings in 10x Genomics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after buying an additional 42,777 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of 10x Genomics during the second quarter valued at approximately $689,000. Point72 Asset Management L.P. bought a new stake in shares of 10x Genomics during the third quarter valued at approximately $27,778,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings 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 worth $871,000 after acquiring an additional 44,347 shares during the last quarter. 84.68% of the stock is 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.