Hold Rating Maintained for 10x Genomics Amid Settlement Gains and Macroeconomic Challenges

William Blair analyst Matt Larew has maintained their neutral stance on TXG stock, giving a Hold rating yesterday.

Matt Larew’s rating is based on a combination of factors, including the recent settlement agreement between 10x Genomics and Bruker, which resolves ongoing patent litigations. This settlement is seen as a positive development for 10x Genomics, as it not only validates their spatial technology but also provides a financial boost through the expected $68 million in payments and potential future royalties.
However, despite this positive outcome, the broader macroeconomic and industry challenges present a difficult environment for growth and visibility for 10x Genomics. The company’s shares are currently trading at 1.2 times the projected 2025 sales, which suggests a cautious approach is warranted. As a result, Matt Larew has maintained a Hold rating, reflecting a balanced view of the company’s current position and future prospects.

In another report released yesterday, UBS also maintained a Hold rating on the stock with a $12.00 price target.