In a report released yesterday, Tycho Peterson from Jefferies maintained a Buy rating on 10x Genomics (TXG – Research Report), with a price target of $19.00.
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Tycho Peterson has given his Buy rating due to a combination of factors including the recent financial performance and future prospects of 10x Genomics. The company reported strong quarterly revenue growth, with a significant increase in gross margins, and maintained a solid cash position, signaling robust operational health despite regional sales declines.
Moreover, Peterson sees potential in the company’s guidance for 2025, particularly in the growth of Chromium reactions and spatial revenues. Although there are concerns regarding NIH funding and competitive pressures, the conservative guidance and ongoing commercial progress suggest a positive outlook. This optimism is further reinforced by the expectation that current funding challenges might be alleviated, setting the stage for potential earnings outperformance.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $18.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TXG in relation to earlier this year.