Analysts Set 10x Genomics (NYSE:TXG) Price Target at $83.33

10x Genomics (NYSE:TXG) has received a consensus rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $83.33.

TXG has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Friday, May 22nd. Guggenheim initiated coverage on shares of 10x Genomics in a research report on Thursday, March 5th. They issued a “buy” rating and a $96.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of 10x Genomics from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Cowen boosted their target price on shares of 10x Genomics from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Citigroup boosted their target price on shares of 10x Genomics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th.

In other 10x Genomics news, CEO Serge Saxonov sold 10,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $79.82, for a total transaction of $798,200.00. Following the sale, the chief executive officer now directly owns 963,181 shares in the company, valued at approximately $76,881,107.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foresite Capital Management I, sold 1,450,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $80.13, for a total transaction of $116,188,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,444,819 shares of company stock valued at $490,717,745 over the last three months.

Several hedge funds have recently added to or reduced their stakes in TXG. Foresite Capital Management I LLC bought a new stake in shares of 10x Genomics in the 4th quarter worth approximately $551,699,000. Morgan Stanley raised its holdings in shares of 10x Genomics by 363.0% during the first quarter. Morgan Stanley now owns 5,048,578 shares of the company’s stock valued at $314,628,000 after acquiring an additional 3,958,168 shares during the period. SB Investment Advisers UK Ltd. acquired a new stake in shares of 10x Genomics during the first quarter valued at approximately $239,074,000. FMR LLC raised its holdings in shares of 10x Genomics by 14.0% during the fourth quarter. FMR LLC now owns 3,135,078 shares of the company’s stock valued at $239,049,000 after acquiring an additional 385,217 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of 10x Genomics by 60.8% during the first quarter. Alliancebernstein L.P. now owns 1,573,010 shares of the company’s stock valued at $98,030,000 after acquiring an additional 594,693 shares during the period.

10x Genomics stock traded up $1.27 during midday trading on Monday, hitting $83.26. 894,171 shares of the stock were exchanged, compared to its average volume of 583,152. 10x Genomics has a 1 year low of $45.11 and a 1 year high of $108.36. The company has a 50 day moving average price of $78.90 and a two-hundred day moving average price of $75.14.

10x Genomics (NYSE:TXG) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.09). The company had revenue of $71.91 million for the quarter, compared to analysts’ expectations of $71.67 million. During the same quarter last year, the business earned ($0.25) earnings per share. 10x Genomics’s revenue for the quarter was up 34.2% compared to the same quarter last year.

10x Genomics Company Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems. It offers chromium instruments, enzymes, reagents, microfluidic chips, and other consumable products, as well as software for analyzing biological systems.

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Analyst Recommendations for 10x Genomics (NYSE:TXG)

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