10x Genomics price target lowered to $45 from $55 at Barclays

Barclays analyst Luke Sergott lowered the firm’s price target on 10x Genomics to $45 from $55 and keeps an Overweight rating on the shares. The analyst says Q1 is shaping up to be a rather inconsequential “do nothing” quarter for the life science tools and diagnostics space. The firm does not expect to get a lot of data one way or the other on many of the bull/bear debates. It believes investors continue to favor bioprocessing names broadly over instrument-focused companies.