On July 14, 10x Genomics rose 5.27% in regular trading, trading at $44.05/share, with turnover of $21.35 million. The move was driven by BofA Securities significantly raising its price target on the stock from $30 to $46, representing a 53% upward revision and well above the Street consensus target of $25.77.
The bullish call comes amid improving fundamentals. The company reported Q1 EPS of -$0.10, beating the consensus estimate of -$0.30 by 66.67%, while revenue of $150.8 million also topped the $146.4 million estimate. The loss-narrowing trajectory remains intact, with full-year revenue guidance set at $600 million to $625 million. Additionally, the company recently completed its acquisition of Proteintech Genomics to expand proteomics capabilities and established a collaboration with the Cleveland Clinic to advance single-cell and spatial technologies in bladder cancer diagnostics, broadening its commercial pipeline.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments