10x Genomics (NYSE:TXG) Price Target Raised to $138.00 at Bank of America

10x Genomics (NYSE:TXG) had its price target increased by research analysts at Bank of America from $109.00 to $138.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 16.17% from the company’s previous close.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their target price on 10x Genomics from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Investment Research raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Thursday, September 10th. Morgan Stanley started coverage on 10x Genomics in a report on Wednesday, September 9th. They set an “overweight” rating and a $135.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on 10x Genomics in a research note on Thursday, July 9th. They issued a “buy” rating and a $105.00 price target on the stock. Nine research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $109.11.

Shares of TXG opened at $118.79 on Wednesday. The business’s 50-day moving average is $105.78 and its two-hundred day moving average is $84.19. 10x Genomics has a fifty-two week low of $45.11 and a fifty-two week high of $125.92.

10x Genomics (NYSE:TXG) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.18. The firm had revenue of $42.90 million for the quarter, compared to analyst estimates of $30.58 million. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis.

In other news, Director John R. Stuelpnagel sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $113.92, for a total transaction of $854,400.00. Following the completion of the transaction, the director now directly owns 546,489 shares of the company’s stock, valued at $62,256,026.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Serge Saxonov sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.58, for a total transaction of $875,800.00. Following the sale, the chief executive officer now owns 963,181 shares in the company, valued at $84,355,391.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,692 shares of company stock valued at $16,181,857.

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new stake in shares of 10x Genomics in the second quarter valued at $1,139,000. Nuveen Asset Management LLC acquired a new stake in shares of 10x Genomics during the 2nd quarter valued at about $27,101,000. Charles Schwab Investment Management Inc. increased its stake in shares of 10x Genomics by 21.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 57,293 shares of the company’s stock worth $5,117,000 after purchasing an additional 9,992 shares during the last quarter. California State Teachers Retirement System bought a new position in 10x Genomics during the second quarter valued at about $8,366,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in 10x Genomics in the 2nd quarter worth approximately $1,853,000.

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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Analyst Recommendations for 10x Genomics (NYSE:TXG)

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