Kyle Mikson CFA, an analyst from Canaccord Genuity, maintained the Buy rating on 10x Genomics. The associated price target remains the same with $15.00.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight 10x Genomics’ potential for growth and market positioning. The company reported strong second-quarter results for 2025, with total revenue surpassing both the analyst’s and the FactSet consensus estimates. This performance was bolstered by a significant contribution from a patent litigation settlement, which resulted in a GAAP profitable quarter.
Moreover, 10x Genomics’ acquisition of Scale Biosciences is seen as a strategic move to enhance its technology portfolio, particularly in the area of instrument-free single-cell analysis. Despite facing challenges in the academic and biopharma markets, the company has provided optimistic guidance for the third quarter of 2025, suggesting a positive outlook for the latter half of the year. The analyst believes that these factors, combined with the company’s strong product adoption and strategic initiatives, position 10x Genomics well for a reacceleration of growth, making the stock an attractive buy at current levels.
Mikson CFA covers the Healthcare sector, focusing on stocks such as Exact Sciences, Illumina, and Quanterix. According to TipRanks, Mikson CFA has an average return of -10.2% and a 29.44% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $15.00 price target.