Canaccord lowered the firm’s price target on 10x Genomics (TXG) to $15 from $18 and keeps a Buy rating on the shares. The firm said its target change is driven by decreased near-term estimates and increased macro uncertainty. The company reported Q1 results which were above estimates and even without a revenue benefit from a patent litigation settlement with spatial biology competitor, Vizgen, 10x’s results would have still beat Street expectations.
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Read More on TXG:
- 10X Genomics Faces Mixed Outlook Amid Funding Uncertainties
- 10x Genomics price target lowered to $15 from $18 at Stifel
- 10x Genomics price target lowered to $11 from $15 at TD Cowen
- 10x Genomics price target lowered to $9 from $12 at JPMorgan
- 10x Genomics: Navigating Uncertainty Amidst Regional Variations and Budget Constraints
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