10x Genomics, Inc. (NASDAQ:TXG) has recently garnered attention from analysts, as they have given the stock an average recommendation of “Moderate Buy.” This news comes from a report by Bloomberg.com, which indicates that twelve analysts are currently covering the stock. Of these analysts, two have suggested selling the stock, two have recommended holding it, and eight have given a buy recommendation.
In addition to the average recommendation, these analysts have also provided a one-year price objective for 10x Genomics. This objective stands at $54.85 and is based on reports issued in the last year. This suggests that there is potential for growth in the company’s stock value.
However, it is important to note that 10x Genomics’ most recent quarterly earnings report did not meet expectations. Released on May 3rd, the company reported earnings per share (EPS) of ($0.44), falling short of the consensus estimate of ($0.38) by $0.06. This disappointing result may be a cause for concern among investors.
Furthermore, 10x Genomics had a negative return on equity of 22.02% and a negative net margin of 32.51%. These figures indicate possible financial challenges faced by the company.
Despite these setbacks, there is some positive news to consider. 10x Genomics experienced a year-over-year increase in revenue during the last quarter, with sales reaching $134.29 million compared to a consensus estimate of $128.87 million.
As a life science technology company, 10x Genomics develops and sells instruments, consumables, and software for analyzing biological systems worldwide. The company offers products such as chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables.
Looking ahead to its current fiscal year, equities research analysts expect 10x Genomics to post an EPS of -1.42. This prediction suggests that the company may face additional challenges in the coming months.
In summary, 10x Genomics, Inc. has received a “Moderate Buy” recommendation from analysts. While there is optimism regarding the company’s future potential, investors must consider the recent earnings miss and negative financial indicators. It will be crucial for 10x Genomics to address these issues and find ways to improve its performance in order to attract investors and achieve sustainable growth.
10x Genomics, Inc.
TXG
Buy
Updated on: 04/12/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Analysis of 10x Genomics: Promising Outlook for Growth in the Life Science Technology Sector
10x Genomics, Inc. is a leading life science technology company that specializes in the development and sale of instruments, consumables, and software for analyzing biological systems. The company operates in various regions including North America, Europe, China, and the Asia Pacific.
Several equities analysts have recently provided their insights on 10x Genomics. Barclays assumed coverage on the company and gave it an “overweight” rating with a target price of $65.00 per share. Stifel Nicolaus also increased its target price from $57.00 to $68.00. Lastly, Stephens initiated coverage on the stock and assigned it an “overweight” rating with a target price of $65.00.
On Friday, 10x Genomics’ stock opened at $56.70 with a market capitalization of approximately $6.59 billion. The company has a negative price-to-earnings ratio of -37.06 and a beta of 1.75. Its fifty-day simple moving average stands at $54.34, while its two-hundred-day simple moving average is $48.72.
10x Genomics has experienced fluctuations in its stock price over the past year, with a low of $23.81 and a high of $59.56 within the last twelve months.
In other news related to the company, Benjamin J. Hindson, an insider at 10x Genomics, sold 2,388 shares for an average price of $55.06 per share on May 23rd, resulting in total proceeds of approximately $131,483.28 from the transaction. Following this sale, Hindson currently holds 284,236 shares valued at around $15,650,034.16 within the company.
CEO Serge Saxonov also sold 2,000 shares on April 14th at an average price of $53.82 per share for a total of $107,640.00. Saxonov now owns 897,792 shares valued at approximately $48,319,165.44.
It is worth noting that over the last quarter, insiders have sold a total of 55,655 shares of 10x Genomics’ stock worth $2,989,044. Insiders currently hold 10.65% of the company’s stock.
Institutional investors have also made notable changes to their positions in 10x Genomics. BlackRock Inc., for instance, increased its stake in the company by 14.2% during the first quarter and now holds around 9,156,992 shares valued at approximately $696,572,000. Similarly, Baillie Gifford & Co. raised its stake by 1.8%, owning a total of 8,753,987 shares worth $488,385,000.
Other institutional investors such as Vanguard Group Inc., FMR LLC, and Sands Capital Management LLC also increased their stakes in 10x Genomics during the same period.
Overall, with its strong presence in the life science technology sector and positive analyst ratings and target prices along with consistent insider selling and support from institutional investors; it appears that 10x Genomics has solid fundamentals and potential for growth in the future.
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