10x Genomics (NYSE:TXG) Receives Average Recommendation of “Strong Buy” from Brokerages

Shares of 10x Genomics (NYSE:TXG) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.

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Brokers have set a one year consensus price target of $64.75 for the company and are anticipating that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also assigned 10x Genomics an industry rank of 41 out of 255 based on the ratings given to its competitors.

Several analysts recently weighed in on TXG shares. Evercore ISI started coverage on 10x Genomics in a report on Tuesday, September 24th. They set an “outperform” rating and a $70.00 price target for the company. Bank of America started coverage on 10x Genomics in a report on Monday, October 7th. They set a “buy” rating and a $62.00 price target for the company. Cowen started coverage on 10x Genomics in a report on Monday, October 7th. They set an “outperform” rating and a $55.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on 10x Genomics in a report on Monday, October 7th. They set an “overweight” rating and a $55.00 price target for the company.

Shares of TXG traded up $0.44 during mid-day trading on Tuesday, reaching $55.72. The company’s stock had a trading volume of 481,293 shares, compared to its average volume of 320,663. 10x Genomics has a 1-year low of $45.11 and a 1-year high of $63.38. The business’s 50-day moving average price is $53.55.

10x Genomics (NYSE:TXG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.20). The firm had revenue of $61.21 million during the quarter, compared to the consensus estimate of $54.33 million.

In other news, major shareholder Foresite Capital Fund I, L.P. purchased 187,500 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $39.00 per share, with a total value of $7,312,500.00. Also, Director Bryan E. Roberts purchased 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $23.31 per share, with a total value of $699,300.00. Over the last three months, insiders have purchased 517,500 shares of company stock valued at $19,711,800.

A number of hedge funds and other institutional investors have recently made changes to their positions in TXG. Teacher Retirement System of Texas acquired a new position in 10x Genomics in the 3rd quarter valued at $504,000. Hussman Strategic Advisors Inc. acquired a new position in 10x Genomics in the 3rd quarter valued at $2,596,000. Emerald Advisers LLC acquired a new position in 10x Genomics in the 3rd quarter valued at $1,008,000. Picton Mahoney Asset Management acquired a new position in 10x Genomics in the 3rd quarter valued at $251,000. Finally, SG Americas Securities LLC acquired a new position in 10x Genomics in the 3rd quarter valued at $203,000.

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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