J.P. Morgan Reaffirms Their Buy Rating on 10x Genomics (TXG)

J.P. Morgan analyst Julia Qin maintained a Buy rating on 10x Genomics (TXGResearch Report) on August 9 and set a price target of $65.00. The company’s shares closed yesterday at $46.94.

According to TipRanks, Qin is a 4-star analyst with an average return of 18.3% and a 75.00% success rate. Qin covers the Healthcare sector, focusing on stocks such as 10x Genomics, Pacific Biosciences, and NanoString Tech.

Currently, the analyst consensus on 10x Genomics is a Moderate Buy with an average price target of $58.75, which is a 25.16% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $70.00 price target.

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TXG market cap is currently $5.29B and has a P/E ratio of -37.17.

Based on the recent corporate insider activity of 71 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. Most recently, in May 2022, Kosaraju Sridhar, a Director at TXG bought 15,000.00 shares for a total of $172,200.00.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

10X Genomics, Inc. is a life science technology company, which engages in building products to interrogate, understand and master biology. Its integrated solutions include single cell transcriptomics, single cell genomics, single cell epigenomes, linked-reads genomics and spatial transcriptomics. The company’s products include Single Cell Gene Expression, Immune Profiling, CNV, ATAC, and Genome and Exome. 10X Genomics was founded by Serge Saxonov, Ben Hindson, Kevin D. Ness and Eduard Diviu Terradas on July 2, 2012 and is headquartered in Pleasanton, CA.

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