Brokerages expect that 10x Genomics, Inc. (NASDAQ:TXG) will post $100.93 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for 10x Genomics’ earnings, with estimates ranging from $99.20 million to $102.00 million. 10x Genomics reported sales of $75.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.1%. The company is expected to announce its next earnings report on Tuesday, February 16th.
According to Zacks, analysts expect that 10x Genomics will report full-year sales of $287.61 million for the current financial year, with estimates ranging from $285.80 million to $288.60 million. For the next year, analysts forecast that the company will post sales of $491.50 million, with estimates ranging from $480.70 million to $518.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover 10x Genomics.
10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($0.33) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.33). The business had revenue of $71.82 million for the quarter, compared to the consensus estimate of $62.71 million. 10x Genomics had a negative return on equity of 19.18% and a negative net margin of 31.06%.
A number of brokerages recently issued reports on TXG. Morgan Stanley increased their target price on 10x Genomics from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, November 11th. JPMorgan Chase & Co. raised their price objective on 10x Genomics from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on 10x Genomics from $165.00 to $195.00 in a research report on Wednesday, December 16th. Zacks Investment Research lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Friday, November 13th. Finally, Bank of America increased their target price on shares of 10x Genomics from $109.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $133.64.
Shares of NASDAQ TXG traded up $0.58 during midday trading on Friday, hitting $159.37. 1,291,051 shares of the stock traded hands, compared to its average volume of 1,394,465. 10x Genomics has a one year low of $48.78 and a one year high of $166.31. The business has a 50 day moving average price of $147.73 and a two-hundred day moving average price of $141.57. The company has a market cap of $15.99 billion and a PE ratio of -154.73.
In related news, insider Benjamin J. Hindson sold 21,062 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $136.38, for a total transaction of $2,872,435.56. Following the sale, the insider now owns 88,562 shares of the company’s stock, valued at approximately $12,078,085.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 33,750 shares of the stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $139.93, for a total transaction of $4,722,637.50. Following the completion of the sale, the insider now owns 100,437 shares in the company, valued at $14,054,149.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,738 shares of company stock worth $24,117,571. Company insiders own 13.28% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. San Francisco Sentry Investment Group CA increased its holdings in shares of 10x Genomics by 49.7% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 229 shares of the company’s stock worth $29,000 after buying an additional 76 shares during the last quarter. CIBC Asset Management Inc increased its stake in 10x Genomics by 2.5% in the third quarter. CIBC Asset Management Inc now owns 3,512 shares of the company’s stock valued at $438,000 after acquiring an additional 87 shares during the last quarter. SG Americas Securities LLC raised its position in 10x Genomics by 6.4% during the third quarter. SG Americas Securities LLC now owns 1,670 shares of the company’s stock valued at $208,000 after purchasing an additional 101 shares in the last quarter. James Investment Research Inc. bought a new stake in 10x Genomics during the third quarter worth about $26,000. Finally, HM Payson & Co. bought a new stake in 10x Genomics during the third quarter worth about $27,000. 60.80% of the stock is currently owned by hedge funds and other institutional investors.
About 10x Genomics
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. Its company offers chromium instruments, enzymes, microfluidic chips, slides, reagents, and other consumable products.
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