Wolfe Research initiated coverage of 10x Genomics with an Outperform rating and $55 price target. 10x Genomics’ unique track record of customer-driven “feedback loop” technology development has created a rapid path to roughly $1B in revenue, the potential for 70%+ gross margin, and near-term cash flow, the analyst tells investors in a research note. The firm added that the “scarcity value” associated with this profile renders 10x an Outperform.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TXG:
- 10x Genomics collaborates with NIH CARD on neuroscience research
- Curio Bioscience to ‘vigorously defend’ against 10x Genomics’ allegations
- NanoString downgraded to Neutral from Overweight at JPMorgan
- NanoString downgraded to Neutral from Outperform at Baird
- NanoString downgraded to Market Perform at TD Cowen after 10x Genomics ruling
