Brokerages Expect 10x Genomics, Inc. (NASDAQ:TXG) Will Announce Earnings of -$0.25 Per Share


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Equities analysts expect 10x Genomics, Inc. (NASDAQ:TXG) to report earnings per share of ($0.25) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for 10x Genomics’ earnings, with estimates ranging from ($0.35) to ($0.15). 10x Genomics posted earnings per share of ($0.22) during the same quarter last year, which would indicate a negative year-over-year growth rate of 13.6%. The company is scheduled to report its next quarterly earnings results on Monday, May 10th.

On average, analysts expect that 10x Genomics will report full-year earnings of ($0.75) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.57). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.13) per share, with EPS estimates ranging from ($0.49) to $0.21. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow 10x Genomics.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, February 16th. The company reported ($3.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($3.59). 10x Genomics had a negative return on equity of 19.98% and a negative net margin of 51.27%. The firm had revenue of $112.22 million during the quarter, compared to the consensus estimate of $101.20 million.

TXG has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on 10x Genomics from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Cowen raised their price objective on 10x Genomics from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Morgan Stanley raised their price objective on 10x Genomics from $145.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. William Blair started coverage on 10x Genomics in a research report on Monday, March 22nd. They set an “outperform” rating for the company. Finally, Citigroup raised their price objective on 10x Genomics from $195.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, February 25th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. 10x Genomics currently has a consensus rating of “Buy” and an average price target of $183.70.

Shares of NASDAQ:TXG opened at $185.34 on Thursday. 10x Genomics has a 52-week low of $59.36 and a 52-week high of $201.70. The firm has a market capitalization of $20.16 billion, a P/E ratio of -137.29 and a beta of 1.39. The stock has a 50 day moving average price of $174.12 and a 200-day moving average price of $158.90.

In related news, Director Sridhar Kosaraju sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $174.63, for a total transaction of $261,945.00. Following the completion of the transaction, the director now owns 2,833 shares in the company, valued at approximately $494,726.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 41,666 shares of the company’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $184.54, for a total transaction of $7,689,043.64. Following the transaction, the insider now owns 78,302 shares of the company’s stock, valued at approximately $14,449,851.08. The disclosure for this sale can be found here. Insiders have sold 144,416 shares of company stock worth $25,731,264 over the last three months. Corporate insiders own 13.28% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Sicart Associates LLC acquired a new stake in 10x Genomics during the 4th quarter worth $234,000. GWM Advisors LLC purchased a new stake in 10x Genomics during the fourth quarter worth about $1,044,000. Federated Hermes Inc. boosted its holdings in 10x Genomics by 404.4% during the fourth quarter. Federated Hermes Inc. now owns 50,662 shares of the company’s stock worth $7,174,000 after buying an additional 40,618 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of 10x Genomics in the third quarter valued at about $27,000. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of 10x Genomics by 55.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,720 shares of the company’s stock valued at $4,633,000 after purchasing an additional 11,650 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

10x Genomics Company Profile

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. Its company offers chromium instruments, enzymes, microfluidic chips, slides, reagents, and other consumable products.

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Earnings History and Estimates for 10x Genomics (NASDAQ:TXG)

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