10x Genomics (NASDAQ:TXG) Earns Overweight Rating from Analysts at Barclays

Barclays initiated coverage on shares of 10x Genomics (NASDAQ:TXG – Get Rating) in a research report report published on Wednesday morning, The Fly reports. The firm issued an overweight rating and a $65.00 price objective on the stock.

A number of other research analysts also recently commented on TXG. Cowen increased their price objective on shares of 10x Genomics from $52.00 to $57.00 and gave the company an outperform rating in a research note on Thursday, February 16th. Stifel Nicolaus boosted their price objective on 10x Genomics from $57.00 to $68.00 in a report on Thursday, May 4th. Stephens initiated coverage on 10x Genomics in a research note on Thursday, March 30th. They set an overweight rating and a $65.00 price objective on the stock. Canaccord Genuity Group boosted their price target on 10x Genomics from $55.00 to $58.00 and gave the company a buy rating in a report on Thursday, February 16th. Finally, Morgan Stanley upped their price target on 10x Genomics from $64.00 to $65.00 and gave the company an overweight rating in a research report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $54.85.

10x Genomics Price Performance

NASDAQ:TXG opened at $52.64 on Wednesday. The firm has a 50-day moving average of $51.57 and a two-hundred day moving average of $43.82. The stock has a market cap of $6.07 billion, a P/E ratio of -34.41 and a beta of 1.75. 10x Genomics has a 1-year low of $23.81 and a 1-year high of $56.22.

10x Genomics (NASDAQ:TXG – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.06). 10x Genomics had a negative net margin of 32.51% and a negative return on equity of 22.02%. The business had revenue of $134.29 million for the quarter, compared to analyst estimates of $128.87 million. During the same quarter last year, the business earned ($0.38) EPS. 10x Genomics’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities analysts expect that 10x Genomics will post -1.33 earnings per share for the current year.

Insider Transactions at 10x Genomics

In related news, CFO Justin J. Mcanear sold 1,245 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $47.75, for a total value of $59,448.75. Following the completion of the sale, the chief financial officer now directly owns 75,519 shares of the company’s stock, valued at approximately $3,606,032.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 10x Genomics news, CFO Justin J. Mcanear sold 1,245 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $47.75, for a total value of $59,448.75. Following the transaction, the chief financial officer now directly owns 75,519 shares of the company’s stock, valued at approximately $3,606,032.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 1,742 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $47.75, for a total value of $83,180.50. Following the completion of the transaction, the insider now owns 250,237 shares in the company, valued at approximately $11,948,816.75. The disclosure for this sale can be found here. Insiders sold a total of 6,928 shares of company stock valued at $342,952 over the last quarter. Company insiders own 11.08% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently bought and sold shares of TXG. Price T Rowe Associates Inc. MD grew its stake in 10x Genomics by 75.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 2,349,229 shares of the company’s stock valued at $66,907,000 after buying an additional 1,010,643 shares during the last quarter. Westpac Banking Corp acquired a new stake in shares of 10x Genomics in the third quarter valued at about $1,905,000. Credit Suisse AG increased its stake in shares of 10x Genomics by 27.8% in the third quarter. Credit Suisse AG now owns 2,154,964 shares of the company’s stock worth $61,374,000 after purchasing an additional 468,207 shares during the period. Two Sigma Investments LP lifted its position in shares of 10x Genomics by 133.0% during the 3rd quarter. Two Sigma Investments LP now owns 355,168 shares of the company’s stock worth $10,115,000 after purchasing an additional 202,762 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in 10x Genomics by 11.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 19,347 shares of the company’s stock valued at $551,000 after purchasing an additional 1,949 shares during the period. 74.34% of the stock is owned by institutional investors and hedge funds.

About 10x Genomics

(Get Rating)

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.