Canaccord maintains a Buy rating and $70 price target on 10x Genomics after the company reported preliminary Q4 results essentially in line with the firm’s estimates and ahead of consensus. While 10x’s Chromium instrument revenue lagged expectations, the company exceeded estimates for consumables revenue, and 10x has sold over 250 Xenium instruments to-date, which is “impressive,” the analyst tells investors in a research note.
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