Analysts Anticipate 10x Genomics, Inc. (NASDAQ:TXG) Will Announce Quarterly Sales of $132.21 Million

Equities research analysts forecast that 10x Genomics, Inc. (NASDAQ:TXGGet Rating) will post $132.21 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for 10x Genomics’ earnings, with estimates ranging from $130.90 million to $132.90 million. 10x Genomics reported sales of $115.84 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.1%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that 10x Genomics will report full-year sales of $612.48 million for the current financial year, with estimates ranging from $606.10 million to $617.27 million. For the next financial year, analysts expect that the company will report sales of $855.34 million, with estimates ranging from $827.30 million to $906.49 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow 10x Genomics.

10x Genomics (NASDAQ:TXGGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.01). 10x Genomics had a negative net margin of 11.87% and a negative return on equity of 7.38%. The firm had revenue of $114.50 million for the quarter, compared to analysts’ expectations of $113.33 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis.

TXG has been the topic of a number of research reports. Citigroup lowered their price target on 10x Genomics from $150.00 to $100.00 in a research report on Thursday. Zacks Investment Research upgraded 10x Genomics from a “sell” rating to a “hold” rating in a research report on Thursday, February 17th. The Goldman Sachs Group lowered their price target on 10x Genomics from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 13th. Finally, Cowen decreased their price objective on 10x Genomics from $205.00 to $145.00 in a report on Thursday, February 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $128.57.

NASDAQ TXG opened at $50.41 on Friday. The stock’s 50-day simple moving average is $66.58 and its two-hundred day simple moving average is $108.52. 10x Genomics has a twelve month low of $46.05 and a twelve month high of $208.99. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of -96.94 and a beta of 1.92.

In related news, insider Bradford Crutchfield sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $95.13, for a total value of $1,617,210.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $89.90, for a total value of $1,078,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,199 shares of company stock worth $2,790,248. Company insiders own 11.57% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley boosted its position in 10x Genomics by 4.6% during the 2nd quarter. Morgan Stanley now owns 4,327,843 shares of the company’s stock valued at $847,479,000 after acquiring an additional 191,777 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in 10x Genomics during the 3rd quarter valued at approximately $208,000. Cambridge Investment Research Advisors Inc. boosted its position in 10x Genomics by 5.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,410 shares of the company’s stock valued at $205,000 after acquiring an additional 78 shares in the last quarter. Deutsche Bank AG boosted its position in 10x Genomics by 8.9% during the 3rd quarter. Deutsche Bank AG now owns 139,828 shares of the company’s stock valued at $20,357,000 after acquiring an additional 11,417 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in 10x Genomics by 9.3% during the 3rd quarter. Advisory Services Network LLC now owns 2,149 shares of the company’s stock valued at $313,000 after acquiring an additional 183 shares in the last quarter. 76.25% of the stock is currently owned by institutional investors.

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.

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