10x Genomics, Inc. (NASDAQ:TXG) Expected to Announce Earnings of -$0.25 Per Share

Wall Street analysts expect 10x Genomics, Inc. (NASDAQ:TXG) to announce ($0.25) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for 10x Genomics’ earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.35). 10x Genomics reported earnings per share of ($0.22) during the same quarter last year, which would suggest a negative year-over-year growth rate of 13.6%. The company is expected to announce its next quarterly earnings report on Monday, May 10th.

According to Zacks, 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 financial year, analysts forecast that the business will post earnings of ($0.13) per share, with EPS estimates ranging from ($0.49) to $0.21. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow 10x Genomics.

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

Several brokerages recently issued reports on TXG. JPMorgan Chase & Co. lifted their price objective on 10x Genomics from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Smith Barney Citigroup lifted their price objective on 10x Genomics from $165.00 to $195.00 in a research report on Wednesday, December 16th. Zacks Investment Research upgraded 10x Genomics from a “sell” rating to a “hold” rating in a report on Thursday, March 25th. Citigroup upped their price objective on 10x Genomics from $195.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Finally, Cowen upped their price objective on 10x Genomics from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 25th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $183.70.

Shares of NASDAQ:TXG opened at $185.34 on Thursday. The business’s 50 day simple moving average is $174.12 and its 200-day simple moving average is $158.90. The firm has a market capitalization of $20.16 billion, a price-to-earnings ratio of -137.29 and a beta of 1.39. 10x Genomics has a 12 month low of $59.36 and a 12 month high of $201.70.

In other news, CEO Serge Saxonov sold 10,000 shares of the stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $176.00, for a total transaction of $1,760,000.00. Following the transaction, the chief executive officer now owns 889,576 shares of the company’s stock, valued at $156,565,376. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Stuelpnagel sold 7,500 shares of the stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $178.76, for a total transaction of $1,340,700.00. Following the sale, the director now owns 479,591 shares in the company, valued at approximately $85,731,687.16. The disclosure for this sale can be found here. Insiders have sold 144,416 shares of company stock worth $25,731,264 in the last ninety days. Corporate insiders own 13.28% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXG. BlackRock Inc. raised its stake in 10x Genomics by 57.0% during the fourth quarter. BlackRock Inc. now owns 5,163,020 shares of the company’s stock worth $731,084,000 after acquiring an additional 1,874,510 shares during the period. FMR LLC increased its stake in shares of 10x Genomics by 17.3% in the fourth quarter. FMR LLC now owns 10,071,083 shares of the company’s stock valued at $1,426,065,000 after purchasing an additional 1,484,389 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $181,568,000. Nuveen Asset Management LLC increased its stake in shares of 10x Genomics by 212.8% in the third quarter. Nuveen Asset Management LLC now owns 1,001,406 shares of the company’s stock valued at $124,856,000 after purchasing an additional 681,250 shares during the period. Finally, Brown Capital Management LLC bought a new position in shares of 10x Genomics in the fourth quarter valued at approximately $64,887,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

About 10x Genomics

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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