Analysts Set $64.75 Price Target for 10x Genomics (NYSE:TXG)

10x Genomics (NYSE:TXG) has been given a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price target of $64.75 for the company and are predicting that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also given 10x Genomics an industry rank of 41 out of 255 based on the ratings given to related companies.

A number of research analysts have recently issued reports on the company. Bank of America assumed coverage on 10x Genomics in a research note on Monday, October 7th. They set a “buy” rating and a $62.00 price objective on the stock. Cowen assumed coverage on 10x Genomics in a research note on Monday, October 7th. They set an “outperform” rating and a $55.00 price objective on the stock. Evercore ISI assumed coverage on 10x Genomics in a research note on Tuesday, September 24th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on 10x Genomics in a research note on Monday, October 7th. They set an “overweight” rating and a $55.00 price objective on the stock.

Shares of NYSE:TXG traded up $0.44 on Tuesday, reaching $55.72. 481,293 shares of the company traded hands, compared to its average volume of 320,663. The business has a 50-day simple moving average of $53.55. 10x Genomics has a 52 week low of $45.11 and a 52 week high of $63.38.

10x Genomics (NYSE:TXG) last announced 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 analysts’ expectations of $54.33 million.

In other 10x Genomics news, major shareholder Foresite Capital Fund I, L.P. bought 187,500 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $39.00 per share, with a total value of $7,312,500.00. Also, Director Bryan E. Roberts bought 300,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $11,700,000.00. Insiders have bought 517,500 shares of company stock worth $19,711,800 over the last ninety days.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dean Capital Investments Management LLC bought a new stake in shares of 10x Genomics in the third quarter worth about $573,000. Massachusetts Financial Services Co. MA bought a new stake in shares of 10x Genomics in the third quarter worth about $8,157,000. Tower Research Capital LLC TRC bought a new stake in shares of 10x Genomics in the third quarter worth about $250,000. SG Americas Securities LLC bought a new stake in shares of 10x Genomics in the third quarter worth about $203,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of 10x Genomics in the third quarter worth about $251,000.

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.

Further Reading: Why investors pay attention to retained earnings

Get a free copy of the Zacks research report on 10x Genomics (TXG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for 10x Genomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 10x Genomics and related companies with MarketBeat.com's FREE daily email newsletter.