Stifel Nicolaus analyst Daniel Arias maintained a Buy rating on 10x Genomics (TXG – Research Report) today and set a price target of $63.00. The company’s shares closed yesterday at $48.07.
Arias covers the Healthcare sector, focusing on stocks such as Danaher, Illumina, and 10x Genomics. According to TipRanks, Arias has an average return of -7.4% and a 41.81% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for 10x Genomics with a $60.22 average price target, representing a 25.28% upside. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $65.00 price target.
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Based on 10x Genomics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $153.64 million and a GAAP net loss of $92.99 million. In comparison, last year the company earned a revenue of $131.07 million and had a GAAP net loss of $41.91 million
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TXG in relation to earlier this year.
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10x Genomics (TXG) Company Description:
10X Genomics, Inc. is a life science technology company, which engages in building products to interrogate, understand and master biology. Its integrated solutions include single cell transcriptomics, single cell genomics, single cell epigenomes, linked-reads genomics and spatial transcriptomics. The company’s products include Single Cell Gene Expression, Immune Profiling, CNV, ATAC, and Genome and Exome. 10X Genomics was founded by Serge Saxonov, Ben Hindson, Kevin D. Ness and Eduard Diviu Terradas on July 2, 2012 and is headquartered in Pleasanton, CA.
Read More on TXG:
- 10x Genomics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Outlook for 2024
- Canaccord still bullish on 10x Genomics, PacBio despite reducing 2024 estimates
- 10x Genomics price target lowered to $60 from $65 at Deutsche Bank
- 10x Genomics price target raised to $55 from $45 at Barclays
- 10x Genomics’s preliminary Q4 results ahead of Street estimates, says Canaccord
